Too many people got way too crafty and built new luxury “cabins” similar to that of a trendy Silicon Valley style home, and that’s just not the market here, those places will take huge haircuts.also the pool cabin pumpers during Covid did exceptionally well when kids were doing school from home and there was a lot of demand year round for pools in off peak times…now those pool cabins sit empty because kids are in school and people aren’t willing to pay a premium to stay so the place sits unoccupied.

If so, their banking information (name, account, routing number) is on this.Unfortunately, most landlords tend to find this is a hopeless situation and tend to write off damages on next years taxes.Gail

The city will require a few pictures of the apartment to make sure it is live-able and once a lease is signed and submitted to HRA, they will verify the applicants income, and it will take up to 10 business days for NYC HRA to write a check for the total amount of the 1 year lease. 

Fees should be clearly stated in writing, easy to understand, and justifiable.

Originally posted by Account Closed:@Ember MeadowsIn the buyer section of the contract, I write ABC Fund, LLC &/or assignsWhen it comes to "opening title" I then take the contract to the title company that I wrote into the contract with the earnest money check made out to them.

@Greg ScottAbout the only other factor to consider is the tax write-off on the interest.

As you write checks and make deposits your income tax return is preparing itself.At the end of the tax year print a simple Profit and Loss report for the time period and hand it to your bookkeeper or CPAYou still need to keep receipts for seven years or so but the works does itself as you write and code each check.Even if you file as an LLC, Partnership or corporation your CPA will thank you.

Quote from @Christian Styles: This seems to be in the ballpark, but I would have a few follow up questions, Is this their entire fee structure? 

If they are on a verbal agreement, then it is considered a month-to-month even though nothing is in writing.

Be careful of a usury violation if you do this.To discourage a borrower from sitting on the property, we can call a default if work doesn’t start within 90 days, and we write our note for 6 months.