I JUST DID MY FIRST SUB2 DEAL AND LEASE/OPTIONES IT OUT 5 DAYS LATER FOR A PRETTY NICE BACK END (IF THEY EXERCISE THE OPTION IN 18 MONTHS).I THINK WE'LL ALL AGREE THAT REAL ESTATE INVESTING IS GREAT BECAUSE OF THE DIFFERENT METHODS AND OPTIONS.EDUCATION IS DEFINITELY THE KEY.

I don't think it's advisable to give the property manager a warning or discuss the issue really; this is a case of gross negligence and even if they will "clean up their act" in the future, you've lost any confidence in them and there's no reason to pay somebody big bucks when you doubt whether they will deliver.

As Jeff mentioned above, detailed records is key in reducing liability.

They can send you a list of thier properties that are listed and some of them will send you properties that aren't listed yet, but will be soon.If you area has public access to all listings in your area, you can start by searching in a certain area and looking for key words in the listing descriptions, such as "Lender Owned", "As-Is", "Bank Owned", etc.

This is only a lease with a one page option that gives the Tenant/Buyer the option to purchase the home at a predetermined price at the end of the term and if they stop paying the rent the Landlord/Owner can evict, if the Tenant/Buyer decides not to buy at the end they can walk away and the Landlord/Owner got the benefit of a long term tenant who took better care of the home because they were planning on buying the home instead of just renting.Remember to be successful action is the key...Marv Rousselow

Last year I had a pretty major rehab (ppty cost $22K, final material cost $14K) and I "shopped" my major list at all three.No suprise HD was the absolute highest, also they DON'T DELIVER at any price.

It was disgusting and to top it off she was due to deliver her second child in two months.

Possibly, they could sue you for specific performance and force you to sell, or somehow quantify the loss they sustained when you did not deliver (hotel expenses b/c of no home to move into, etc.) and (also) sue you for those damages.

They did deliver, but it was a costly lesson for me.

The key thing to remember is that lenders will compare debt to income along with credit score.