But you need a dependable, paying tenant not drama.If she can't fulfill the contract she signed you should evict her and then get a good property manager.

The property will be available mid-February.These are the list of responsibilities I'm looking the PM to fulfill- Bring the property to market- Screen tenants (credit score, references, etc.)- Prepare lease contract- Deal with day-to-day issues (although I'm not expecting too many as the house is <10yrs old).- Inspect the property on a regular basis (min: once every three month) to check general status- In case things go south be able to evict tenant in a peaceful manner.- Charge rent- Provide regular (monthly) status reports detailing problems and other situations.Is there anybody with good references that can do the job?

@Collette Douglas I’m not aware of any low down payment products that don’t require owner occupancy and I wouldn’t recommend failing to fulfill the owner occupancy requirements of your loan.

Was a rebound deal as we were falling out of another contract and needed to meet our 1031 timeline (we didn't settle though just to fulfill the 1031 timeline...it checked all the boxes).

I make it clear to the unrelated tenants/roommates that they are 100% responsible for fulfilling the terms of the lease as a whole and not 25% each.

You'll need to do this anyway in order to fulfill the terms of the leases that are already in place.

If he signed a lease agreeing to late fees and then crossed them out of the extra copy you sent after you purchased it, then he is legally responsible to fulfill the original contract and his crossing out malarkey doesn't matter. 

Being as though you already see red flags you want to be able to secure your EMD should the seller not fulfill the demands in the contract.

A property is secured by a note and deed of trust which give the lender the right to foreclose if the investor doesn't fulfill their end of the relationship.Also, an insurance certificate can be made out to the lender so they are protected with insurance in case of a total loss.

@JD Martin,I am all for building people up and supporting small businesses (I have had multiple) but if you claim to be a tax strategist and are paid for that service, it should be that persons fiduciary responsibility to fulfill that service.To answer your question, I had two other CPAs look over what Natalie prepared before I signed them for filing.