I have the seller sign a Letter of intent to Lease and To OptionThe letter of Intent covers...Address, Rental Term, Renal Payment per month, Security Deposit, Possession Date, Option Sales Price (could new appraisal), Option Money (usually 3% or $5K min), Representations, Warranties, Covenants, and Indemnification, Legal Effect, Notice of Intent to Assign, Option Period (45 - 60 days)I have them sign the letter of intent (LOI), it goes to my attorney, and the attorney prepares the paperwork.There is an option release disclosure document that discusses that the buyer will be responsible for the following fee’s to be paid out of escrow at closing, which are for the release of the recorded notice of option, the assignment of negotiated purchase price, and the negotiated rent.2.

I've had some tenants that were borderline and they agreed to give me first month, last month and security deposit since they really didn't qualify and sometimes these are my best tenants.

Are you giving the family mamber a mortgage on the property as security for the loan you are receiving?

The house looks great.I would recommend you change the ad though:"$800/Month, (first & last month to move in)"When they give you notice they won't pay the last month and you have no security deposit.

He also receives higher than average market rents by NOT taking a security deposit, thereby opening up his market to several renters who have the income, but not the savings.Will his methods work in other areas?

I've begun researching companies that handle checkbook LLC IRAs and I received some info from the Security Trust Company stating they will charge a 2k set up fee which includes setting up the LLC and handle all other costs for an annual fee of .98.

For most, the return is very important, but even more important is trust, security and long-term stability.

Thanks everyone you all make great points.I believe she is milking the situation.A point I would need to clarify with social security is if in fact they would mail the check to the landlord since we are listed for back rent on the papers she submitted or the check would come to her??

Her security deposit covered the turn-on fee.

I would surprised if I could rollover/merge four accounts into one solo401k (or the two SEPs into one solo401k).Second question is if my solo401k is about to purchase, say, 60% ownership of a property, can the remaining 40% be deeded to me personally and can I personally secure a loan on that 40% ownership without having UBIT kick in?