Good enough for me.Frankly I'd say leave the tenants alone - this is a proven financial instrument that doesn't need a new landlord screwing it up for minor and petty gains.

Leases are a business instrument.

Plus, if you end up with teenagers, it would be nice to have them and their loud friends and music over the garage, too, lol.  

It combines features of a HELOC where it factors money daily (how you save your interest), it takes the max ceilings and floors for rates like a ARM mortgage, and it also acts as a checking/savings account in that you can store and draw money from it for the life of the term (usually 30 years) unlike a HELOC where its 10 year draw and 20 year Principal and interest no more draw after year 10.Where the benefit comes in is opportunity cost of interest since interest is factored daily you could park your pay checks, savings, and other cash instruments into this LOC or HOA loan and save on the all differential in daily interest charges that would normally be paid with a standard 30 year fixed mortgage or other typical mortgage that factors interest/amortization "monthly."

So glad you have joined us on this journey.It has been so instrumental in our investing journey, and in my growth as a real estate agent. 

@Trinity CarrickThere is a similar financial instrument called "Liquidity Credits".

My primary concern was if the tenant downloaded some illegal music or something else I could be fined for or the fiber equipment could be damaged, under this arrangement, I am not in charge of the account used to login to manage the google fiber connection or the equipment that's used at the residence.Hope that helps anyone interested in doing so themselves.

It's been musical apartments!

If the prior landlord complains that they play loud music, you don't have to approve them.  

They will park crazy and take up two spaces, they will play their music too loud.