Normally, the tenant has been defaulted procedurally but it always helps to have an idea in your mind how you would prove each allegation in the event the court "gives both parties their day in court".

The 'House Rules'  portion of my lease spells out exactly what "cleaning" is under the terms of the rental contract And the minimum number of times the tenant is contractually agreeing to perform the specified cleaning procedures.  

I need to do a credit check for their business also what other procedures do you use for checking businesses out

I would definitely still treat it like a business and make sure to follow appropriate procedures for finding tenants. 

1) You have to get it rented, most banks will want a DSR (debt service ratio) of 1.2 or higher2) Determine your financing - depending on your situation you may be able to get a conventional loan (each could carry 4, some banks allow 10 per person if your credit and income can support it) or just go commercial (those are normally adjustable, I have found up to 7 years and the rates are a little higher but if you BRRRR'd it right you should be able to support that higher rate)2) The bank will order an appraisal, each will have its own requirements as to how much equity you can liquidate (I like 75%)3) After your appraisal you will have to prove how much you put into the renovation4) get your cash and do it again (check with the bank and find out what their EXACT policy and procedure for transferring the property into your LLC5) once you get your cash contact RE lawyer and COVER THOSE ASSETS make sure your insurance policy is a commercial one, get an umbrella policy and find someone who really knows what your intention is with the propertyI've done this over and over again!!!!

Hello All,I am a combat blinded veteran trying to find the most appropriate links for landlord forms, contracts, operating procedures, tenant binders and binders for lender presentation, and so on.

Looking at a home in my neighborhood and it is REO ,the bank has the note on the property. Do I call the bank and inquire about the terms of this REO ?  Can you get assit from the bank to buy? What terms should I look...

The procedure should be fairly simple.  

If the lender stops the foreclosure action, which often happens if the lender discovers a procedural error, and then refiles the case, the homeowner can use the statute of limitations defense.

I'm new to this realm and am trying to understand and digest process, procedure and terminology to help me on my venture in investing.