If you were to hire a property management company to handle both the properties and turn the whole thing over to them, they would get the rents up to par as quickly as possible without you first having to sort through two states' worth of regulations and second having to convince mom and dad to take your sage advice.The issue with the Florida tenant's rent payments might be your angle in pushing property management.

A good option is the P/A without default provisions as the optionee can walk away, no harm no foul.I have used standard purchase agreements then with an addendum, delete para 12, 13, 18 qnd 21 for example, then state the buyer has the option to avoid the contract and address specifics of the option, date notice is required, closing after notice, option price, credit toward the purchase, no contingencies.Or, use an option agreement

It is likely a state by state thing, but in Texas earnest money is not required to have a legally binding contract, but there must be an "option fee" in order to have a termination option (under para. 23) when using the state promulgated (TREC) form. 

Track Comparable SalesAlthough we are still hovering near the all-time lows with respect to the 10-year treasury, consider that for every 1 percent rise in interest rates it takes somewhere in the neighborhood of an 8 percent increase in Net Operating Income to remain at par as far as your property value is concerned.

the best person to talk to is a para legalthey do work for attorneys- save some bucks-you should be able to file it with your states corp division they have everything on there site-forms ect...

you should be able to take the title of the property to the sheriff and have them removed for trespassingI'm not sure of your state but here in AZ it is called trespassing and some of these folks get out the steeltalk to a para legal to get all the laws to play your handbest of luckenjoy

Hola EricQue areas de Chile sabes que son buenas para invertir?

Mitchell Paras, I own two rental townhomes in Montie Beach, kind of the edge of the Heights.

Not even with the doc #.I won't see my estate atty. for several weeks, but when I do I'll ask the para how she looks this up online in King County.

& his para-legal is on the ball.