Last month I warned you of the coming heat.

Hey @Ethan Clay Lesperance, technically the lender could call the loan due for violating a possible clause in the loan agreement.I have been someone who has warned about this but so far, many folks have renting their former primary residences without issue with the lender.

But just remember - you've been warned - start local, start small!

Do you think the things you mentioned are bad enough to warn other hosts?

The fact that this is owner financed might be a good thing but sends up a lot of warning flags. 

Devin,Just a warning about checkbook IRAs: Self Dealing Activities will get your entire IRA disallowed and you will have to pay the tax on all your money.Self Dealing Activities are frighteningly easy to do.Do a Copilot search for "Problems with checkbook IRA plans."

I would warn that the idea of a "set it and forget it" with most real estate investments is not reality even with great management in place.

I will make certain to tell them our story and to warn folks to proceed with extreme caution whenever an "investment" opportunity comes their way from Scott and I will cite this very experience to drive the point. 

I don't know the order of payment, but if the old PM still had some of my money (or my tenant's), I'd only pay them part of the cancellation fee and either tell them the rest was coming after they released the money.I'd also tell the tenant who they tried to evict under false pretenses to leave a google review for the PM to warn others.

I know some will warn against the commission, but my website is not bringing me deals right now, so giving him a piece of my profits isn't that big of a deal for me, if his efforts lead to those new opportunities.i had some of the same questions you had, and this forum has actually given me a better perspective on large company, vs freelancer, vs. trying to do it on my own.