We ended up putting a clause in the lease that we covered utilities (solid waste, gas, electricity, water, etc), but if any single bill exceeded $200 it would be charged as additional rent that was due with the next months rent.

It will make your property more competitive and if your tenants do start a fire then the rental insurance should hopefully cover it.

Hi Carlos,All you have to do is send him the security deposit statement with the expenses that you had to cover.

At the time the condo value decreased to about 160k and we decided at the time if we could just rent it out to cover the mortgage and fees, we could make some equity and sell it later even though we werent making cash flow on it.  

I'm new to the site as well.I agree wholeheartedly with @Jim Wilcox about the need for a strong lease (e.g. one that covers all types of situations).

Assuming the builder owns or rents the furniture they should talk to their agent how best to cover the furniture or the rental company they got it from. 

Some weeks it is flip heavy and others is sell heavy.

His Son went off to college so he went and bought a house that his son lived in and leased out the spare rooms to cover the mortgage.

Lease Option/Purchase is a great strategy to buy and sell houses.Just make sure that they are two separate documents and you cover your base with good contracts.You can read more about Pros and Cons on my website.If you want any help, do not hesitate to contact me.

I would advise to get an equity partner and get the loan that will cover all needs.