.- Damage in excess of normal wear and tear.Source: https://www.thebalancesmb.com/massachusetts-security-deposit-law-2125077 Here's another one:Quote:After a tenant moves out, the landlord may use all or part of the security deposit for the following reasons:- Unpaid rent (unless validly withheld or deducted by the tenant) and, if applicable, water charges- Unpaid increase in real estate taxes (only applicable if the lease contains a valid tax escalation clause)- The cost of repair of damages caused by the tenant, other occupants, or their guests (does not include pre existing damage or routine painting, carpet shampooing, etc. that is performed because of normal “wear and tear.”)Source: https://www.mass.gov/info-details/find-out-what-landlords-can-use-security-deposits-forAnd another:Quote: When you move out, your landlord can use your security deposit to pay for: - Repairs for damage that are not "reasonable wear and tear." - Unpaid rent, unless you legally withheld rent for bad conditions.

Finally, if you buy a property with a pre-existing tenant make them re-qualify under your standards immediately.

For example, lets say you made $30k a year for the past two years, so $60,000 / 24 = $2500/month, and they will want your mortgage to be normally a third of that max, which means your max mortgage is probably around $150kish in this scenario assuming you don't have any pre existing debt. 

The good thing is you wont' have to worry about pre-existing relationships!

Pre-existing relationship + small deal made it comfortable enough to not go the PPM route.

And will he be able to sell the white whale with no pre-existing buyers list (assuming he's not too greed) You betcha!

The rules state that operators and investors need to have a pre-existing relationship before offering an investment opportunity. 

Does anyone know if there is a pre-existing fund that allows an investor to purchase an individual property through them or do I have to setup my own QOF entity? 

Did they cover preexisting issues?

Does anyone have or use a pre-existing "calculator" for figuring out monthly utility charges for tenants using RUBS (Ratio Utility Billing System)?