I plan to put a $600 utility cap in the lease.

We're now up to $1,900/mo and the current tenant wanted to sign a full year lease so it's a furnished long term rental for the moment.

Their lease is 6 month term with a same rate month to month however, their insurance states the rebuild of their home and fire investigation efforts are going to take 12-18 months. 

The guy is a "lease-option" guy (plenty of posts here on him) that decided to jump on the land band-wagon & it shows.Feel free to reach out to me if you have questions. 

You need a local/state specific lease.2.

say you find a solid property in a low cost market for $200K and you buy it.between down payment, closing costs, rent ready / spruce up costs, and lease-up costs, you're probably going to need at least 50-65K in cash. 

You also want every adult to be named on the lease and sign it.

We work with lots of clients from both coasts, but especially from CA, helping them find investment properties with residents in place under 2 year leases from day 1!

If you have a potential tenant that "might not" be a good payer, just don't sign a lease. 

The one guy I spoke with said they make money only when they sell to potential investors and they only sell new construction homes that are usually pre-leased to buyers (currently they are building in Texas state and Missouri State).