Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

Generally, the coverage of the policy will state; “The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title.”

My interpretation of the CA law is that unless the medical condition constitutes a disability there is no obligation on the part of the landlord to let them out of the lease.

-Rent collection and financial management is probably not at the top of the list based on some of the challenges that we hear about, mainly because if you are lucky enough to have solid tenants and low vacancy, this is easy peasy, but if you have some challenging tenants that default on payments, or the possibility of an eviction arises, it can be worth paying a management company to help guide next steps. 

Setting financial and lifestyle goals and using lessons from your current setup can help.Good luck!

A lot of those people are financially vulnerable and lack resources to go against the seller.

Best case, you learn a lot, survive financially and trade up.

I’m happy to be in a forum with fellow investors and people wanting to master real estate.  I enjoy hearing about peoples’ personal wins and innovative, creative strategies.  I hope to be able to contribute to other p...

We were in a financial position where we could keep our existing home, upgrade, and purchase another home.

My goal is to have financial freedom so I can eventually quit my 9-5 job and use my time to spend with family and do things that excite me.