Mentor’s virtual assistant processes these letters, and the $12 fee is just to cover the costs.

The security deposit is approximately 10% of total repairs so it won't cover most of the damages.

Would it make sense if the co-owner paid rent and then we split the difference on anything outstanding that doesn't cover the monthly mortgage (mortgage is 2k/month. he pays rent of 1k and then we split the remaining 1k 50/50)?

By doing so and if structured correctly you may find your tenant covering most of your mortgage and monthly expenses. 

If you can find a house or duplex where rental income covers a significant portion of the mortgage, it could help you build equity while minimizing your living expenses.I'd recommend looking into first-time homebuyer programs in your area, and as always, make sure the numbers work for you.

But if it's low because they don't charge enough, and there are repairs in the pipeline that will need covered, you could be looking at a Special Assessment. 

Also, I have a pool and fireplace so I want to cover myself on the lease agreement.

Talk about how good the schools are, how close to the beaches or other attractions, Size/type of kitchen, ease of maintenance of swimming pool if in place or jet powered swim lane, Covered parking if so, etc. 

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I just had one of these I made a title claim and the title company paid me off.if your stupid enough to buy without title insurance your in trouble.also if you don't know any better and don't pay for a policy that also covers the wholesale fee your going to be out of luck when you make your claim . along with any rehab you have done.Now for me I was able to make the claim and got paid AND I filed a quiet title action and won that so now I own the property .. the fraudster is being chased by the title company and well it took 18 months but it looks like we might come out ahead..