You'll need a contract made up between the two of you and a loan doc for the funds.

Cap Ex was relatively high last year due to a water line leak wiped out a good portion of the profits the Cap Ex that year was around 48%of rent since rent was lower.

On Saturday, 6/29, in the late afternoon, for the second time within two weeks, the sewer trap was backing up....thank God for leak sensors. 

Today I went to look at the meter and I didn't see a constant usage that I thought would be a sign of a leak in the pipe between the meter and the shutoff valve.  

It’s 4 years old and had a recent leak.

Don't be house poor or you may be houseless when the next downmarket, job loss, recession, or stubborn leak shows itself.If anyone is looking for advice on small software companies, or agencies, or balancing a startup during a day job, I will try to reply or answer DMs as best possible.

@Keegan Darby , any assumption would be determined by your Loan Docs (The Note), and the servicer should be contacted to determine the process if it is assumable.

Once the borrower is tied into these they are quite cumbersome to manage for the borrower and god forbid there is a default of any kind :)  or with the pre pay penalties and the reporting and the covenants to keep a certain DSR etc etc I mean look at all the syndicators who are leaking oil because they cant meet loan covenants.. 

So we draw up some legal docs and now both house 3 and 4 are collateral for the new loan total of  280K @ you guessed it, 10% APR Interest only payments for 24 months this time.

HOWEVER, want to avoid/minimize setting up a new company and filing additional LLC and other related documents (want to avoid extra work additional docs would create).