Some may require a waiting period of one to two years before leasing is permitted, while others may prohibit rentals entirely as outlined in their bylaws.Always know the property’s potential for annual rental income and ensure the numbers work.

When you tell them they will only get paid when the loan closes, they will disappear.If required, the only money you should ever send to the lender is for a credit check.

My advice is to require them to pay the full balance upon the next payment.

I think I will not let him make this upgrade as a 5 year payoff would require over $100/month additional rent.  

(eg, if your lot is not the standard 25 x 125, but some other multiple where the width is actually skinnier than 25, and the lenghth is longer than 125, and you want to reduce side setback requirements, eg.) 

I am realizing some of the gaps in my book knowledge and the practical knowledge required to see a deal all the way through.

I have noticed quite a few posters lately that are requesting help, opinions, prices and information on their properties where a good answer would require either the square footage, the location or both....and they provide neither.

Given the competitive market at the time, every property was receiving multiple offers, and securing a deal required both strategy and speed.

Both turnkey properties and properties requiring minor rehab can be viable options.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.