I don't spend a great deal of time searching titles myself, but I'm curious what you found when you pulled the recorded deed on this house.

You would want to get that option recorded so that they cannot sell the house to someone else.

Here is the track record so far with my tenants: They were on contract for 2 years for $2200/month.Received $2000 rent for August on the 3rdReceived $2000 rent for Sept but came in on Sept 8th - I was ready to sent the 5 day notice.Received $1800 rent for October on the 1st day - This showed me that the mother was willing to cooperate.

Others here like small banks but a track record helps.

Doing the option correctly, means that you would need to record an memorandum of option with the county recorder, to demonstrate that you have equity in the property.This is a win win, the family gets the money they need ASAP, and you have the opportunity to sell and maximize your return on investment, while never "owning" to the property.Like JD Rockefeller said: "Own Nothing, Control Everything!"

This latter transaction does trigger the due-on-sale, but such transfer does not come to the attention of the lender because it is not recorded anywhere in public records.

How do you keep record of your income and expenses for your rental properties?

Record your interest as a deed of trust or mortgage on the property.

What if there are title issues that needed to be researched locally...does this company do local research at every public records office in the country?

Once you've purchased the home and addressed all the major items, and you're confident of the maintenance record of the home you can come up with an estimate for your repairs.