This is in theory a sunk cost for the tenants, in some cities in Washington you have to apply the application fee to the "move in costs" which cannot exceed the cost of 1 month's rent and including the security deposit fee.

@Graeme Harris This is going to very highly by location and their rules.

When I'm not chatting here I'm working overtime to arrange complimentary transportation to get you to court and should you have pending business there secure lodging near the courthouse with complimentary shuttle service on any court dates!

@Steve K.100% agree which is why I am against people doing seller financingThey are investing in a security instrument that is typically over leveraged because they may sell a $200k home for $220k, and get 7-8% taxed at ordinary incomeI can invest in other investments and get 8-10% taxed as qualified dividends or get depreciation and have ltv’s below 70%… throw in these borrowers are typically not underwritten properly and have a high chance of failure and I scratch my head why people think this is a great ideaI think a lot will learn the hard way in the next 2-3 years

However, I ( personal) would let him out of his lease but I would tell him since three different plumbers couldn’t find anything wrong with the apartment you will not be getting your security deposit back.

Thank you for sharing numbers, that really puts things into context for me as I analyse deals and locations. 90-95% occupancy is great while still profiting $1500 - $2500 per month.

Seems like a good location and building is supposed to be done mid 2022.

The location and the price point How did you find this deal and how did you negotiate it?

As you're still on college and interested in the financial sector, I do encourage you to try to land your first job in the financial sector and start building the business on the side - this way you will be secured on your monthly paychecks and will be able to start to get the feel of what dropshipping really means.

Next best are 1-bedrooms and studios IF it's an exceptional and also small development, good location, etc.