And even at that stage, you still have the tar paper underneath for extra protection.

I don't want the seller to think I have an excessive amount of money and can afford to pay a dollar more than I offer on a property.

But what I will do on this post is I will tell you in general what paperwork to use.Three stagesThe first stages when you create a legal relationship with the seller, so you enter into a letter of intent to lease or purchase,  and this spells out what will happen, that you as a investor and not as an agent will lease and option the owners’ property and you will sell your agreement to a buyer for a fee, and how much this fee is.  

I am a new investor and heading towards my first flip hence I am wondering if staging helps to sell the property faster or not.Based on your experience should an investor stage or not?

One commercial mortgage broker friend of mine knows a very wealthy person that floats LIBOR but they own properties at a high cap rate.They float to generate excess cash and as the hikes start floating close to what you can lock in long term fixed for they start converting some of the portfolio but that is a unique situation where this person is so wealthy they can get way with things like that.People buying at low caps with floating or even fixed with a 3 year balloon are asking for it.

If they damage your property in excess of the security deposit potentially you have someone besides a tenant to extract monetary damages from.

As a Realtor and former analyst, I'm putting my experience and research skills to use looking for the right property as well as sorting out the early stages of funding my/our first project. 

Looking for long term cash flow properties.Currently we have 16 rehab projects 90 mile radius of Charlotte NC Building 10 new construction rentals  24 new construction homes in Ft Mill SC Breaking Ground ( planning commission meeting stage )So that about it for now Alex

Maintenance and RepairThe management company shall maintain the buildings, appurtenances and grounds of the Development in accordance with standards acceptable to you the owner, including within such maintenance, without limitation thereof, interior and exterior cleaning, painting and decorating, plumbing, carpentry, and such other normal maintenance and repair work as may be desirable.For any one item of repair or replacement, in excess of $1,000 you can include a provision to have the management company bid out the work, or the parts.

yes thanks Donald--I'm wanting to convert a duplex into one SFH.And I'm just spitballing at this stage, though I'm getting ready to complete one regular renovation in about six weeks and I'm thinking about the next project.