Hello Steve,We requires tenants to have renters insurance prior to taking occupancy and we must be named on the policy  to ensure we receive all communications from the insurance company.

He said this is to ensure the heater and gas line are installed per code and are safe to operate.I have owned this house almost 4 years but the wall-heater was there before I purchased the house.

What I can tell from the data points here is both agree that the rehab is very minimal.

You could do it a couple of different ways. 1) You could sign a 4 month lease and then have the remaining tenants resign for another period when that is up.2) You could sign a 12 month lease with all of them and then have them resign when the group moves out.3) Sign a month to month but require that they stay a minimum of 6 months in order for them to be qualified to get their deposit back.As always, ensure that everything is within your local landlord tenant laws.

Be sure to create a pro forma P&L and then adjust accordingly as more accurate data comes in.

I'm primarily looking to work side by side with a reputable attorney who could assist me with double closings, and one that could analyze my contracts to ensure that they are legalized to be used in the Huntsville Al area.. 

There are several websites where you can look up data on cities and neighborhoods.

It's easier to keep track and ensure you don't spend it.

My gut was to stay out of it but since this is kind of a different situation that I hadn't heard about before I thought I would throw it up to the brain trust to ensure I had considered all the angles.  

I really like the strategy of keeping rents slightly below market to ensure occupancy.