New tile on the floor doesn't mean squat".Mechanicals,roofs,plumbing,electrical etc. that is where the real cost is at.Is the property sub-metered for water??

I have been putting bandit signs up and trying to do subject to deals so that i can get control of houses cheaply but the problem is 1) subject to is a short term startegy becuase they may call loan due at any time 2) lots of subject to deal the house is under water I already wasted $1k in bandit signs and feeling discourage...I know there are a lot of creative financing deals out there..

Lessee shall obtain a Lessee’s insurance policy to cover damage or loss of personal possessions, as well as losses resulting from their negligence.

Its relatively new structure(1995) and it goes for relatively cheap price.However, it has some damage to the ceiling sheet rock and plumbing was also damaged.

If the damage shall exceed such sum, Seller shall promptly notify buyer in writing of the damage and this offer may be canceled at option of buyer.

I'd have to pick a property up at deep deep discounts just for the brain damage of learning a new market and due diligence required.OTH, if you are a subsidiary of GE Capital and can buy 15 properties in an area, that changes things, I assume you're not in that position.Good luck!

Your friendship will be damaged, perhaps irreparably.

I know I need to request a copy of the renter application, lease, and to get any damage or security deposit funds transferred to us...but is there anything else I need to be aware of in this situation?

Eviction is costly, and damage/costs are hard to collect.

There are these things called utilities - you know, things like electric, water, gas, phone, cable, etc. - that are turned on when somebody lives in a house.