If he opts to buy the property, rent paid during the lease period is applied toward the purchase price.Because owner financing can be complex, we recommend working with a licensed attorney who will consider your best interests when drafting the necessary documents.Good luck!

Thank you again, new to the site and this is very helpful. 

OMG can you imagine, I do not need to make up stories or brag about how long I have been doing something, because like life, it all becomes a blur at some points.Here is another classic - We had a loan where the borrower was using the property as a rental in Danville VA (not a place I recommend investing).

I agree with you that twice the amount sounds a little high (unless you are in a high demand/low supply area). 

I recommend building your "core 4" (Real Estate Agent, Property Manager, Contractor, Lender) in your target market.

Are folks able to manage to get to that second property, when they have high debt service in one property.

Can anyone recommend a rent collection agency? 

Anything you can do to attract and keep better tenants will be worth it and if you rent to a family a second bathroom will be high on their list.We always ad a second bathroom and finish at least part of the basement of ranch homes and based on my last 15 years I can tell you ARV or higher rent is not the primary reason we upgrade properties: better tenants, less turnover, shorter vacancies are worth it

Good in the long term so I didn't have to worry about the utility bill but like you mentioned - high upfront costs and time consuming. - Equal Splitting (ratio utility billing) - What I've heard from lawyer friends who practice real estate law is a trending spike in resident issues.

I've been looking at opportunities from investment firms like Open Door Capital, et al, and I would like to know if anybody has a recommendation for a spreadsheet or tool for analyzing these deals?