This amount provides a reasonable safeguard against potential claims if something goes wrong, like an accident or damage to the property caused by the tenant. 

Buyers and sellers should consider some amount of closing money be held in escrow after closing to cover potential problems with the non-responding tenants.Does anybody have any experiences to share with successful use of a Tenant Estoppel Letter, or times they wish they'd know about this tool before entering a Purchase and Sale Agreement?

Once I've completed these initial projects and built up some capital, my long-term goal is to transition into buy-and-hold investments in potentially more affordable markets to maximize cash flow and scale up.Right now, I'm particularly interested in investing locally here in the Seattle metro area.

We have specific and unyielding criteria for this, which we provide to all potential borrowers in advance.

We’re looking for Excel models to compare these options and calculate potential net worth in both scenarios.

Effectively good egg is simply a P.O. box that takes a Commission out of your hard earned/saved money, in return, for purportedly providing due diligence to vet the potential projects and sponsors, on your behalf.

@Holly Thorsen see above for potential challenges tapping your equity in the rental.You only need 5% down for a regular mortgage, 3% down for an FHA mortgage - so why don't you have the funds?

OR potentially a lease to own option.

I am wondering if anyone has ever taken legal action against property managers, and if they think we have a potential case? 

The impact of not having F/f financing is large (>10%) if the appraiser recognizes this potential issue.