If they are a fit, proceed to a showing and application.We have a 10 unit apartment situation and frequently are given several potential tenants by our current long term tenants prior to any our marketing (sign/craigslist).

Rents received are applied to the loan prior to foreclosure.

If the owner usually pays then build that into your proforma financials when analyzing a deal prior to purchase.

A buyer is given up to the say ten days prior to the anticipated closing date to deposit the full deposit.

A few weeks prior to my purchase, the house that was sitting on this land nearly burned to the ground, leading to it being demolished and the land going up for sale.

Prior to the transfer of money, the buyer asked my brother to sign two 1031 forms for almost a million dollars.

This is all discussed with the tenant prior to lease signing.I'll rarely post a Pay or Quit if a good tenant is late occasionally, and pays the late fee.

@Steven Hamilton III didn't even see my error while typing that prior post ... my head was clouded by the fact we only repatriate funds once per year out of the after tax income.That said, I do not believe the withholding is applied to our gross revenue each month (this is a non real estate business).

I would do all the work from start to finish and the other person would simply provide the money and a little guidance if & when needed (so it would be great if he/she has some prior experience flipping).

To that extent, there is no incentive to pay the loan off prior to the end of the year.