Locally, we were told last week about a pending matter for exterior paint removal without proper certification or safety measures.Here is the link for the EPA published guide explaining the rule: http://epa.gov/lead/pubs/sbcomplianceguide.pdf Our understanding is that the EPA has spent the last year just catching up, and we are scheduled to be at a conference where the EPA will outline their plans to enforce compliance & educate the consumer to more adequately ensure compliance.

I think if you pick one side to be on instead of two you don't run the "conflict of interest" or "arms length transaction risk"You can only submit one contract at a time to the lender, so anything that comes in after the fact shouldn't be submitted to the lender unless you are absolutely certain you cannot get your contract approved for an agreeable price.AND OF COURSE you need to disclose you are flipping the property.There are a lot of variables here.

Additionally, I would encourage you to have a home inspection done and fix any safety hazards or code violations prior to allowing a daycare be run, try to make sure the place is as child-proofed as possible.Of course, if you can get her to agree not to run the daycare, or if you can find a different tenant, that is the best way to limit your liability.

A "material fact" involves health, safety or welfare, or is a fact that would naturally affect the buyer's decision making process.

Was the lease an arm's length transaction and at market rent values?

We are moving to a new city and really love the pictures of the house and expressed an interest in buying the house if we get settled nicely and like the house as much as we like the pictures of it.I told the owners we'd be willing to pay 3 months in advance for their peace of mind seeing as tho myself and my wife still need to get settled in jobs etc (but have plenty of cash reserves)The owner also said he'd rent it to us at 900/mo as long as we agree to make tiny repairs to the house here and there when he asks of us...obviously something within our abilitiesWe then got sent what looks like a lease option contract, yet I was never asked for any option money and looks like its only 3 months long, but I still get a % of the rent credited to the eventual purchase price.When speaking to the owner he says we can rent this place for as long as we like and he's just making it 3 months long for both of our safety in the deal.Could somebody please take a look at this contract and tell me if anything is out of line or something I should get changed before signing it?

This is not an arms-length transaction.

This is because one never knows whether any occupant damaged something that would lead to an issue with safety.

If you state allows it, use a termination option to create a safety net for yourself.

Do we want a social safety net?