I have to see if this is feasible in my property but if it is I might be able to cut heating costs by 50%.I have to say that if it wasn't for bigger pockets I probably wouldn't have had the confidence to buy a rental yet.

Run don't walk away from this deal.It has taking a loss written all over it.

We bought our first property in Aug and rented it for Sept 1 and were able to count that as a year when getting a new loan because it was on our tax returns - so essentially we were landlords for 1 year and 4 months but they were fine with it.Note that if you take a loss on your tax return that money is taken out of your regular income and will hurt you when applying for a new loan

So, within 90 days they are attempting to hedge against perceived losses under tactics employed in the past by others in the RE market.

I see two options.Charge two month penalty like I stated in the current lease, refund the rest.OrCharge whatever loss I incur from her early termination.

By my REA advise I was dropping price 2 months in a row and when finally got public interest I found myself in loss.

If on the other hand you might have a loss you can carry forward that may tip the scale towards selling.

They will be risk of loss, time until being paid, your ability to perform, what happens if you screw up the repairs, etc.

We have some great back country roads around the lake that any road race driver would enjoy, for me, at times, a few of those "S" curves that I know like the back of my hand are just too much of a temptation.I'm happy to hear Jay that you have enjoyed your method in your construction deals, but you and your attorney are misinformed if you think a note sets a partnership, it may have the effect with similar outcomes.Repeating what you do doesn't make it more correct or prudent, people should not be doing this, you can, if you have issues, you're a big boy, you can handle the issues or losses or ramifications, others can't so well.My temptations running through those curves is much like yours in doing deals you like to do, if I get a ticket, I'll just pay it.

So, if you buy these deal with $75K down, 10%, and end up having to sell a year from now you will end up with an almost complete loss of your $75K investment.