Now everything clicks into place :-)Ok, now that we've cleared that hurdle, I'm gonna guess that investors avoid sellers with equity because those sellers would be reluctant to give up that equity at a discount?

i could be incorrect about your state but most states don't allow that. if they did, banks would be charging anyone with a loan that amount all day long.If that rent is under $1,000/month your $100 late fee would be considered "unreasonable" by a judge in any legal action were required.

The GC might balk at this (especially if this was planned on his part), but if he hasn't purchased any materials yet and hasn't paid out any labor, it's not an unreasonable request on your part given the circumstances.

In practice, this means a cap of $40 - $50 before the Tenant could contact the Rentalsman and claim we were being unreasonably heavy-handed.

It can be an emotional rollercoaster ride, so stay determined, don't let hurdles knock you down, they will be in front of you and seem very tall at first.

Sounds like this is original from consturction 2008 but really hard to believe....Illhave more questions and will be looking for various tradespeople once I close on the property but these are the immediate hurdles for now.Again....thank you allever so much for any insight and advice....soooo soooo different here in California!!!

Starting out: umbrella since the expense of an LLC and complication with financing ect is more of a hurdle than the possible benefit when you're just getting started.

I know SOME HOAs can get nuts, hopefully I'll never be a part of one that is unreasonable My other point was just the extra cost to improve my home.

You just have to be prepared to walk away if they persist in being unreasonable.

I just think that securities regulators would have this first hurdle to pass.