@Brad Lighthall, certainly never a situation I have been in.On a previous purchase, there was at least two more months left on the lease so I just took the existing lease and upheld it until the 2 months were over then we switched to mine.

VA loan requires you to have documentation of land lord experience in order to count rental income from units toward your income.FHA loan will allow up to 75% of appraised rental income to count toward your loan without any experience.

If it turns out to be a $75,000 property then we will do our best to make that happen.The craziest thing that I didn’t realize until listening to the Bigger Pockets Podcasts is that I do have experience with real estate and land lording from my past.

I live in Texas and am working  on using the equity in my home to get a loan and construct a garage apartment to rent out and try my hand at land-lording. 

So I have a small taste of cash flow and a few years of light land-lording.

Originally posted by @Brad Lighthall:My plumber told me a lot of winterization companies are a joke, and from my experience a property that was supposedly “winterized” can still have bursted pipes.

So the relatively low cash-flow goes hand in hand with low risk.For me there are two scenarios: 1) Sell one/two properties and invest in more cash-flowing properties ; 2) refinance the loans, make use of the low-risk since the construction lord is still liable for any structural damages and leverage the funds for a new property.

If  you aren't get familiar with your land lord laws so you know what you must provide and operate within that.... then you can simply deny her requests that are outside of the lease rather than looking to evict her.

The current land lord has owned it for 7 months and is selling because of "Family issues".

Hello Barry Je we use Brad Larsen for property management and AMP Lending for traditional financing and refinancing.