Hello BP Members.I have a Quadruplex currently for sale 4 unitsTenant Occupied(3 tenants)Concrete Block2828 sq ft0.5 acre lot(can fit another 3000sq ft building on property)Water Well Connection15,300 gross income(with 3 tenants)7.00% Cap RateRepairs estimated at $25kAsking Price $50,000Price Negotiable/Accepting Offers

A well written offer is the investors ticket to profits.The Skinny Contract Offer, in my area the standard agent's contract of sale is about 30 pages long (sometimes more), I wanted to make our contract offer smaller with everyday words, easy to understand, only one basic contingent clause, something that the seller can read in a few minutes and understand and most importantly accept!

The unit/half you live in would be treated as your primary residence, and eligible for the 121 exclusion tax exemption, after 2 years.  

We recently accepted an offer to sell a property, and there is a 30 day "due diligence" contingency.Being that we are selling as a development opportunity to a developer, I'd like to know under what conditions the buyer can back out based on results of the DD?

If they are not, get a new management company.For Spring, Texas specifically, here is what I would think is normal and acceptable.- Placement fee around 3/4 months rent.

They would either accept or counter you with $100K.

If you sell within 3 years of renting them out (if you decide to), you will probably qualify for the sec 121 tax free exclusion on your gains.  

Are you planning on accepting them all if they all say yes?  

But the bank would have to be willing to accept the deed in lieu.  

My company operates exclusively in Indiana and Florida tax sales.