Usury is actually factored on the effective interest rate, otherwise known as the annual percentage rate or APR.

Leases run with the property, so IF they had a one year lease in effect now, they could stay until the end of it.

It was something to the effect that I could refinance them at about a 7% rate on a 20 year note, pull out out about $125K in equity, and my payment would still be the same.

This is a tool that has taken ten years or more for other cities to put into effect, and it has never failed in creating revitalization.

I normally write their answers on the back of the business card that they usually just gave me.I usually finish it up with something to the effect of "I run across a lot of property, if I find something that you might be intereseted in I'll give you a call."

Operating expenses also include management (whether you do it or not), maintenance, advertising, vacancy allowance, office supplies, legal fees, evictions, court costs, utilities paid by the owner, lawsuits, fuel for your vehicle (going to and from you rental), damage caused by tenants in excess of the security deposit, etc, etc, etc.

If by some miracle of God they took things that far, what are the damages?

Operating expenses include taxes, insurance, management (even if you do it), maintenance, vacancies, utilities paid by the owner, advertising, legal fees, damage done by the tenants, evictions, lawsuits, office expenses, court costs, setout fees, etc, etc, etc.

I need to stay as agile as possible, I’m not sure when this transition will take effect, but I do know it will be shortly. (2-3 months)1.)

The Seller is worried about damaging his credit if he misses any payments.This is where I would come along and be in a position to SOLVE HIS PROBLEM!