My leases stipulate that anyone staying more than 3 days within 12 months is an occupant and must be added to the lease.

I did what I thought the law stipulated.

I'm interested in offer $X for a lien, and mailing my check with the offer, with the stipulation that by cashing it, they are agreeing to assign lien to me.Thoughts?

Dan,It sounds like your friend approached you and is already willing and able to invest with you, so I am not sure an "initial letter" is needed here.The most important part is your operating agreement if you choose to form an entity in which you both are 50% partners or a well written joint venture agreement if you use your own entities as partnerships.These contracts/documents should stipulate all teh duties of each party, death survival verbiage, insurance, and all details of the deal process.

While the principle is similar, the existing program (EB-5) is for commercial real estate only and is tied to job creation.This new legislation does not appear to have any job creation stipulations to it as it is geared to improving the residential real estate sales market.Personally, I think it's a great idea.

In law, law is not only defined by what is stipulated in the books, but also by what is not.

I'm not saying you shouldn't do the deal, but I would only do it if I was sure I would see some monthly cash flow in addition to the other lease/purchase stipulations.

So... you can make an offer to the owner, with the stipulation that the contractor's estimate comes in below (say) $26,000.

Plus there are still stipulations with 3 or 4 family units where you need so much in reserves upfront and so forth.

If it's not FHA, just add a stipulation to the contract that says, essentially, "if property doesn't appraise, buyer can ask seller to drop the contract price to the appraised value and if seller refuses, buyer can back out."