Although 6K a year seems high, here is what is included: cable, trash, water, amenities (pool, exercise room, parking, etc), as well as hurricane insurance.

A very good exercise is to track where you spend every penny for a few months.

It's kind of like when people say go ahead and switch your mortgage loan from your name to an LLC, because the bank "probably won't" exercise the Due on Sale Clause.

This includes a duty to exercise reasonable care and skill in working for the client, a duty to be honest and deal fairly and in good faith, and a duty to disclose all facts within the agent’s knowledge that materially affects the value or desirability of the property and of which the client is not aware, or that the client would not become aware of through diligent attention or observation.As discussed below, a dual agent, attempting to act on behalf of both parties to a sale, risks violating the fiduciary duty to act only in the best interest of one client, because the agent may have to balance the interests of both clients.Pros of Using A Dual AgentHere are some of the positive aspects of sharing a real estate broker with the seller:Using a dual agent can streamline the transaction.Many agents feel that when a buyer and seller are both working with the same agent, forms and documents can be prepared and signed more quickly, and offers and counteroffers can be communicated more quickly. 

Try not to tie-in substantial lessee improvements with the option exercise.5.

Tenants know I do a series of other maintenance items on the same trip.This is my basic list.(1) Replace AC filter.(2) Bleach AC condensate drain line.(3) Test thermostat and replace batteries if necessary.(4) Exercise ALL shutoff valves - kitchens and bathrooms.(5) Inspect and feel around under sink drains for moisture and leaks.(6) Open toilet tank and look at the tank bolts and overflow tube.(7) Test garbage disposer and throw some ice down.(8) Test smoke and fire alarms. 

I am currently contributing to my 401(k)... and after my exercise, I'm going to stop.

An option contract is a unilateral contract in that only the seller is obligated to perform -- the buyer has the "option" to perform, but not the obligation to.Because the seller is absolutely obligated to perform should the buyer exercise the option, the option must clearly state the terms of the purchase should the buyer exercise the option and the time period during which the option must be exercised (an expiration date).

According to the Tax Court Memo, the following factors are used to determine whether an asset is a capital investment or if it is an item purchased with the sole intent to resell: The taxpayer’s purpose in acquiring the propertyThe purpose for which the property was subsequently heldThe taxpayer’s everyday business and the relationship of the income from the property to the total incomeThe frequency, continuity, and substantiality of sales of propertyThe extent of developing and improving the property to increase the sales revenueThe extent to which the taxpayer used advertising, promotion or other activities to increase salesThe use of a business office for the sale of propertyThe character and degree of supervision or control the taxpayer exercised over any representative selling the propertyThe time and effort the taxpayer habitually devoted to the salesFor the full text of TC Memo 2010-261, click the link.

If the seller defaults on the loan, exercise your option and buy him or her out.Find a Co-BorrowerEven credit-poor individuals can secure bank financing by finding a co-borrower with good credit.