The last is not very good for you and could legally impact your ability to work on the property.Assuming the seller is not a bank then they have a problem property.

Just because you did not get a ticket the last time you were speeding does not mean it is legal to speed.

You will also have management (even if you do it yourself), maintenance (even with new rentals), advertising, legal fees, entity maintenance, evictions, court costs, damage done by tenants, utilities (at least during vacancies), etc, etc, etc (I could go on and on).

:cry: Also, the fact that Wells Fargo is asking you to sign a legal document is troubling.

We have not tackled this problem but we have one deal working which involves 400 ish completed, a few needing guarantees of completion and legals with depositors, at an average of $320k.

We had a guy in NC who would refi all of his elderly family members every year or 2 and max out the fees he could legally charge every time.

A meeting of the minds where both sides agree to a transaction.A purchase and sales agreement (also called an earnest money agreement) where the buyer agrees to buy and the seller agrees to sell based on the specific terms and conditions.Signed by both sides and otherwise legally binding.

In some communities the fine is small enough that you can just roll it in as a cost of doing business.In one case I know the person advertising uses a pre-paid mobile phone so that the number can not be traced using normal processes.

We have begun the process of coming to the US legally.

Technically not exactly a lender in the full legal sense in that there are some minor contractual differences.