The addendum of the administration and servicing of the agreement can be written without any mention of the sale price or even payment amounts required and giving enough information for filing that giving addresses of the parties, the servicing agent and legal description (if it's short).

Sounds like everyone is feeling the pain.

I thought I was going to retire on a stock called CMGI, now MLNK -- check out this pain: http://finance.yahoo.com/q/bc?

In the months of Nov through Feb, I try to stick with leases that are at 6 months or less; some members of BP will tell you to only do month to month lease terms (so that you can give a pain-in-the-tail tenant the boot in any given month without going into an eviction - just a letter that terminates the lease).

Its a big enough pain when its across town.

All of the services have their place, but it is a pain to manage all of this.

I believe you are required to give 30-day notice for a tenant at will in IL but eviction can begin after 5-days for an at fault eviction (ie, non-payment, staying past lease period).A week to week agreement will get you a little more rent $ but having to collect a check 4-5 times a month sounds like a pain to me.

We're the nations oldest and one of the largest 3rd party administrators for self-directed IRA's.

It can be a real pain in the tail too.Depending on how any deal cash flows, you could buy in an entity using some of your cash,and admit others as owners with you.

good luck on a pain free closing!