Some companies now have termination penalities for owners who leave within the 1st year or 2..I think that's a good idea.Insurance...E&O is a must but also genral business liability.This is a good busienss to get in to.

That's why I though that having such a short balloon for the buyers to pay off could be a dangerous situation for them...now I realize that is mostly for me, as they would just walk away and leave the time-bomb in my hands.Yes, and I'm relying in that the upside down "status" of the house by aprox 3K wont be an issue when they get ready to cash out.Regarding the Subject-To and Wraparound mortgage...Isn't what I wanted to do similar to what you proposed in your original post?

What happens when tenant buyer leaves?

It's better to have a longer "over kill" lease than something that leaves anything to the imagination.

Tenant leaves belongings in unit (do everything you can to ascertain whether they are comming back for property [if they still have time before the deadline], and document in detail all you do [in case they say you got rid of their family heirloom thingamabob]), any expense you incur to deal with those left behind belongings very well may be justification for charging against the security deposit.Also, just a note - many landlords in OH do not know this, but OH law requires landlords to mail to the former tenant a written accounting of how the security deposit was spent (i.e., what % refunded and what was spent for what).

I'm happy to accept the extra money and she's a good tenant so I leave it at that.The other one was late for several months and refused to pay the late fees.

Then he can foreclose upon you and you can also have a forgivable caveat on the mortgage.I have done dozens of JV's/OP's and mortgages are just so much easier as they leave your investor secured, attached to title with everything laid out and clear.

Do you leave the blinds open?

The time frame between ownership would be the key issue, and to my knowledge there is no minimum on that which leaves a grey area open to interpretation.

There really is not a lot of wiggle room on properties to make a wholesale profit and leave enough profit in a deal that would interest an investor.