If we can't, then onto the next step.Second we must attempt to hand deliver the notice to each tenant by handing the notice to a person of suitable age and discretion at the tenant's residence, AND deposit a true copy in the U.S.Mail, in a sealed envelope with postage fully prepaid, addressed to the tenant(s) at his/her place of residence on the same date.  

Everything else is estimates, prepaids, and cost of other things that you can shop around yourself but regulartly don't vary much in price.$1600 seems pretty normal to me for how big of a loan you are getting.

The way to finance closing costs is offer aggressively and with FHA you can ask the Seller to pay up to 6% of the sale price for your closing costs & prepaid items like an entire first years worth of home insurance, attorney fee etc.

I do not accept prepaid rent because it is a sign that this renter may have issues, almost always has more problems when you run the background check. 

We filed eviction and he presented a forged note from the prior owner stating he had "prepaid for 6 months".  

Good Afternoon,I need some help in Understanding my options regarding a HELOC that I just got approved for , and am set to sign the Papers for this coming Monday The HELOC is for 20 years  and is a $20,000 Loan  ( the First 10 years is Interest Only and Last 10 years is when the Payments to payoff the Principal kicks in )I want to ask and see if my Future use with this HELOC makes sense and or can be done .............I want to use this Line of Credit for the DownPayment  (  20%  -  25%  ) /Rehab/Closing Costs/Pre-Paids for Each new Rental Property that I purchase and then Refinance into an Investment Property I Won't need the Full  $20,000  from the HELOC each time to use for the DownPayment/Rehab/Closing Costs/Pre-Paids for Each Rental, as i plan to use some of the Cash that I get from each Rental,  when I refinance them My main Question is:If I use this HELOC ONCE per year for the Costs it will take for Each Rental  ( DownPayment ( 20% - 25% ) /Rehab/Closing Costs/Pre-Paids  ) .....

@Kyle Rountree When you talk about "prorated rents" are you talking about security deposits or simply just prepaid rent for upcoming months.

@Mark BeneventoYou cannot legally accept prepaid rent in NJ.Google "NJ prepaid rent"+1 on what @Roy N. said!

@Darsh Patel In my experience as an agent here in CT, it is easier to just ask for a closing cost/prepaid credit if you do not mind coordinating the work to be done once you own the house. 

In a perfect world, accepting prepaid or advance rent would be an advantage, but there are many dangers and pitfalls which should be considered before the decision is made to accept prepaid rent.