The advice to speak to my attorney again just led him to request a $1500 retainer for each unit. - I can’t afford that, I’m a single parent and student- BUT...

--------RETURN OF POSSESSION & REFUNDS[Our company name, address and phone number goes here.]Tenant: ____________________________________________________________Rental Unit Address: _________________________________________________The tenant returned possession of the premises (as stated above) to the landlord on the date of ____________________ and attests that they have returned ALL sets of keys to the landlord.The tenant attests they have removed from the property all personal belongings.If anything was left by the tenant and later found, it shall be stored and/or disposed of by the landlord as per law.Security Deposit:As per agreement and as required by law (RCW 59.18.280) within twenty-one (21) days after the termination of the rental agreement and vacation of the premises or the landlord’s learning that the property has been abandoned, the landlord shall mail to the tenant’s last known address a full and specific statement of the basis for retaining any of the deposit together with the payment of the refund due the tenant under the terms and conditions of the rental agreement.The tenant paid a security deposit of ___________, which will be considered for this purpose.New address provided by tenant: ____________________________________Telephone provided by tenant: _______________________________________[Landlord signature with date][Tenant signature with date]

*****My aunt doesn't necessarily need to stay on the mortgage but wants to retain ownership 50/50 "somehow until she passes.

When I emailed a couple of law firms about this, I got responses like this one: Please let me know if you’d like us to send you an engagement letter.We’d be happy to help if properly retained.

I would consider gradually raising the rents to make rate if the tenants are that important for you to retain.

The site visit is very important to see how a contractor retains all information during the visit and how it's recorded.

If you make a passing comment that you really love the place, that it is your top choice or that you could pay more assume you just said the same thing directly to the seller.You can retain a buyer's agent and in many deals there will be zero added cost to you.

[EDITED BY MODERATOR TO CONSOLIDATE EIGHT POSTS INTO ONE]Check for Notices of Default at your county courthouse . . . get the homeowner's name and address . . . then go knock on the homeowner's door personally.If the home has equity you might be able to put it under contract and "wholesale" the property to another investor.f the home has equity, you might be able to negotiate a short slae with the bank, and find a retail buyer and create a small spread (profit).Bottom line . . . easire opportunity for profit if you can nab the property BEFORE the bank takes it back.oooops . . . sorry about all the typos . . . fingers not coordinating with the brain.TIP: Before you go knocking on the homeowner's door, take the time to learn about the foreclosure laws in YOUR state . . .For example: judicial vs. non-judicial foreclosure, foreclosure timeline, right of redemptionThen learn about all of the ways a homeowner can save their home . . . go to the door armed with KNOWLEDGE . . .Your first priority should be to help the homeowner SAVE their house . . . yes, you read that correctly, give freely of your knowledge to help the homeowner save their house . . .Most of the real estate investors who knock on homeowner's doors do so with the singular intention of profiting from the person's problems . . . and that is very obvious to the homeowner.By HONESTLY trying to help the homeowner first you gain their trust and confidence . . . if circumstances are such that they cannot save their house, who do you think will have the first opportunity to do some kind of deal with them . . . obviously YOU.If the homeowner has equity, you might be able to structure a "subject to" deal . . . that means you take over the homeowner payments . . . notice that I did not say that you ASSUME the homeowner's payments.But once again, don't screw the homeowner and agree to take over his/her payments if you have NO intention of doing so . . . because using the subject to technique the loan is STILL in the homeowners name . . . so if you don't make payments, you are damaging their credit.If you take over a house "subject to" there may be back payments and other liens to payoff . . . and if the homeowner has a lot of equity, you will need to pay the homeowner a portion of their equity . . . you retain the balance of the homeowner's equity as your "fee" for getting them out of their jam and allowing them to move on with their life.You do NOT have to qualify for a bank loan because you have simply agreed (in writing) to take over the homeowners payments . . .You need to be aware that technically the lender/bank could possibly "call the loan" . . . there is a provision in most loans called the "due on sale clause", meaning that if the house is sold or the ownership is transferred in any way, that the lender can call the loan immediatley due and payable.However, it is very rare that a lender will call a loan, particularly now that there are so many foreclosures, if you make the house payments on time the chances are slim to none that the bank will care or even notice.So what can you do if you take over a house "subject to" . . . there are many options:One, you can live in it if you don't already own a home and if you can afford to make the monthly payments . . .Two, you can sell the house to someone else for more than you paid for it . . . they can either cash you out and you make a one-time lump sum profit -or- you can have the new homeowner make the payments for a period of time (perhaps 12 to 24 months) while they get their credit in order, then they get new financing and pay you off as well as the underlying mortgage . . . in the meantime however, you make a small monthly cash flow (i.e. the difference in the mortgage payment with the higher purchase price vs. the mortgage payment the original homeowner was making) . . . this could easily net you a $200 to $300 per month differential . . .Do the math with the previous example . . . 10 houses at $200 to $300 net cash flow each . . . could net you $2000 to $3000 per monthYou would have sold the house to the new buyers on a lease option contract, so all maintenance and repairs would be at their trouble and expense . . .The downside you need to consider is what if the lease option buyer doesn't continue to make their monthly payments . . .

mobiles are cheap, yet they still rent high.Good points.I should probably just rent for a while and not try to shop online.Can't wait to get up there and look around.If I don't have any mortgage, I might invest as much as 15kI don't need to retain as much of a buffer, if I'm going to have minimal bills.I've got a web based business that's been growing for 5 years which brings me about 1000 visitors a week, so I also think I have a unique opportunity to sell property, even in this market.

Mostly interested in buying cheap, renovating and retaining.