So as far as education goes I’m a former broker spent about 3 years licensed (mostly doing work for other brokers) but I’m familiar with how the whole process works and what not on transaction side.I let my license lapse because there are requirements I’ve found make people suspicious.

I guess since eventually offsetting, it doesn't matter, but if there is a lapse in timing (I'm billed quarterly and tenant has the choice to pay all at once or break up monthly), I want to be sure my end of year books are reflecting correctly.Thanks in advance.- Mike

Have you asked your mortgage company what happens if your insurance lapses?

There is nothing wrong with being empathetic about a person's situation if, in fact, it is a real hardship but never let rent lapse beyond a month because that snowball is going to keep getting bigger and out of control.

However, they do have to add me and the Landlord as "Additional Insured" to their personal policy so that we are provided proof of coverage and notified of any lapse in coverage.

Of course any decent mortgage document will have provisions for you to start foreclosure if insurance lapses.

Haven't closed on my 1st property yet, have had my real estate license before (let it lapse), and have about $50k saved towards acquiring the 1st property.

If I were required to give 30 days as contract states, I'd wonder if it's feasible to wait to month 7, even at this pattern, that way I will not be on the hook for any fees in breaking the agreement, if that's the case (bound by the agreement, even if not collecting utilities to reimburse to me).They've had some other mild gaffes (communication, errant charge for landscaping I never authorized, never reimbursed me the small charge, large lapses in communication response - most recent was 12 days, and they only responded when I mentioned this fact) ... many things are gradually adding up and overall it doesn't look too good on their end.Any suggestions as to how to go about this???

b) If indeed the tax payers rights of redemption has lapsed, what is to prevent me from clearing the property and installing one or more septic systems.c) If I purchase a property from the state and the state of Alabama had it in their possession for 9 years, has the taxpayers redemption rights been exceeded.

usp=sharing here is a time lapse that we took if anyone wants to see.