It's the same idea.FYI I've seen subto contracts which provide for ~$50,000 in liquidated damages against a seller that reports the sale to the lender and that results in the loan being called.

He doesn't have to worry about a rough needing replaced or a tenant causing $20k in damages after one year living in property.  

Florida scares me with insurance issues and constant threat of hurricane damage.

They also chose to use roku tvs without a physical on button. just terrible, terrible build quality. bought 4 and 2 are already damaged after a year.

--------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

There has been a lot of emotional damage to both sides. 

There are also a lot of attorneys in FL working pro bono to go after lenders as I believe there is something in the statute that not only can they recoup fees but they can also get consequential damages.

The customer signs our contract , we get 1 /3 down .Now people tend to thing thats for materials , thats partially right , First it secures you a time frame , if you cancel we keep the deposit as liquidated damages .

@Venecia BaezRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

It’s easy to switch it up or add to it or replace it if parts or the whole thing gets damaged.