Aside from meeting basic legal requirements for any contract, everything else is entirely optional, including the security deposit amount.

Basically, from the lender's point of view, your friend (their borrower) could be in this just to split the $90k with you.

If you want to get into the rental property business, study the business to learn the basics before you buy and then start small!

Also, if you can demonstrate that the value is less as a direct result of their actions, I would think you could recover your half of that loss as well.I would recommend doing as much research as possible because you are basically on your own.

I was banking on her staying a long time, if that makes sense..I figured you give a nice home to a lady who is basically screwed up, but wants a nice place to cal home, why would she want to mess that up?

Heating system is a boiler.

Heating system is a boiler.

It is a VERY comprehensive basic real estate course and probably the starting point for more successful investors than any other course.

Asking Price: $36,000Rent: $700It has central heat and air, new roof, plumbing work, new windows, he pretty much remodeled this duplex.

I got in touch with a buddy of mine who now has his RE license and he will be my new buyers agent since I basically fired the agent giving me the run around.