.- If you need to use the renal income to qualify, tenants will need to be in place with signed leases, security deposit made, etc.- HML often have a hard time giving the new lender an accurate "payoff statement" and verification of on-time payments to them (latter necessary because HML typically do not appear on credit), which can delay the refinance causing (surprise surprise) the HML to get another month and change of interest out of you at the crazy high interest rate.

Hi @Kyle Mitchell You know those signs and posters saying, "We buy ugly houses?"

I believe I signed an opposition statement voting against the Rent Control Ban Lift.

2-4 weeks is typical and just depends on how quickly the management company processes applications and how quickly board members get around to signing the right of first refusal.

We are located in Austin TX which is pretty close to San Marcos TX (both college towns) so it's common to have someone sign a lease guarantee form which makes them liable to pay the rent if the tenant can't for any reason.

Just a bilateral agreement that specifies:The giver of the option, or optionorThe receiver of the option, or optioneeThe purchase priceThe term (start date and end date) that the agreement will be in effectThe consideration (typically a dollar amount) paid by the optionee to secure the right to buyPLUS whatever else your attorney thinks is necessary.Make the document recordable by your county clerk, get it signed (and possibly notarized), and then have it recorded on public record.The intent is to ensure that if he tries to sell to anyone else, a title search will find this agreement and trigger a title defect.

Is dampness in the basement a sign of existing or future structural issues?

Monthly cashflow is hard to determine because I don't know your area or your client's needs but you seem to have a handle on whats going on in your area.So my structure looks like this:Purchase Price : 16500033,000 down payment (20%)7% interest, 5 years, 30 year amortization1-2 year option to call loan due950 monthly cashflowGood luck!

The law and contracts you sign will give you some recourse and protection, but only as much as the other guy has to lose.

@Richard Prater just determine what your policy is.