As far as the financing, you will need to get acquainted with multi-family underwriting procedures since a 5 unit will not meet the 'typical' 1-4 family underwriting guide.

This is a great one to learn and you'll want to remember and write it in your procedures so you can't forget.

For the properties that my business manages as well as our own holdings our general procedure is that we do annual inspections on single family rentals to check the smoke detectors and carbon monoxide detectors as well as a overall condition of the property.

Lastly, it sorta messes up my move in procedure, the check list, going through the appliances making sure everything works etc...showing them where the AC filters are, where the water shutoff is, AC thermostat etc...

The investor(actual note holder, not the servicer/bank that you'll be dealing with) sets the standard for the BPO procedures.

Even with the best of screening procedures, leases in C markets are an educated guess as to what will happen, not the legally binding contract you purport them to be.

Especially, since Matt included the language contained in the same statute which details what an agent must do (disclosure as an agent) when buying for their own account.....which is not the same procedures spelled out in the originally referenced section(when approaching as an agent for a listing).Patrick, if the reference "it's the "knowledgable" ones that give us a bad name", was directed at me, you don't know me that welI, I wish all agents as a whole had a higher standard of business practices, and knowledge.

That was probably my post.The context here is in validation of Procedure for Sale.

My research indicates that it's a very straightforward (albeit not always fruitful) process, that doesn't require a judgment enforcement agency if I follow the county's seizure procedures and am willing to pay the upfront costs (probably $500 for court & sherriff's fees).

After all that was done she had it all reviewed by her lawyer.Now in terms of the rent procedure, one of the properties is actually next door to her and my father's home.