Also, some other considerations: Did you rehab it with higher end appliances & fixtures, custom finishes geared toward attracting better buyers, or is it more renter-friendly (average for the area & won't upset you too much if/when renters damage it)?

our area is full of emtitle search revealed a 30-something k mortgage.seller cant / wont repayhow do i collect damages, and what do i ask fori am thinking at least 1 grand....500 title search and 500 other stuff

They have had to go through eviction/courts for damage/etc before so there is also familiarity with that process as well.

Effectively, Uncle Sam has loaned you $1250.OTOH, if your AGI is over $150K, you won't be able to deduct that passive loss against your income.

If you're looking into existing mobile home lots with the infrastructure already in place, it may be more cost effective.

Bob Lowry The 2% "rule" is based around a 25-50K house and like Jon said assumes a 6% interest rate, so obviously as you start messing with the basic concept it becomes skewed and doesn't effectively work anymore.

They were not at all happy with that.Long story short, the guy made a threatening remark to the PM today and so the management company just advised me that they are unable to effectively manage this situation and are pretty much hanging us out to dry with a very difficult tenant.

I guess I just felt like water in an old basement when it rains heavily obviously doesn't negatively effect the structure of the home since it has likely been wet since 1938 ...and if it is not a living space, why does it matter to a renter?

If I've found the golden tenant and have no need to use the security deposit for damages, They would then receive their $682.50 ???

Hi Mathew, thanks for asking about in effect the tax treatment of non refundable option payments, rent credit etc!!