Repeat every year until their rents match the markets.If the tenants wish to move you may also need to pay relocation assistance as well depending on the situation, up to 3 months' worth of their current rent.

Is this common practice?

Disclaimer: I am still a newbie to this and haven't purchased any investment properties just yet, but I'm practicing analyzing deals so that I can be ready when I have the money to get started next July.

Finally, I am sure some of you would be good candidates to come on the show, so if you're interested doing a practice run for when you make it on the BP podcast, send me a message! 

This property is actually under contract now but I’m still using it to practice running numbers on.Tim, the full description of the listing says that the tenants split the utilities and they have separate meters.

Since these laws are state specific you’ll have to research applicable state law in the state in question, or engage a real estate attorney practicing in that state.

This is one of the biggest ripoffs n DIY painting (like practically every Zinsser product aimed at the DIY market) because straight dewaxed shellac outperforms it for 1/2 the price -- all you need to do is paint three coats of paint over the shellac instead of two.

We have property insurance for the overall building and I believe it is standard practice that commercial tenants pay for their own property insurance for inside their walls (just like you would have renters insurance in a residential unit).

And because $462 is well below the best practices for contingency savings, you should expect to fund emergency expenditures out of your own pocket if they arise early on.This is where a thorough inspection comes into play.

I've recently relocated to Orange County, NY and notice there are no meetups in the area (outside of NYC).