Also, if obtaining financing, the lender will need the purchase contract to reflect the correct occupancy if it is in the purchase contracts in your area. 

To those who are using the BP Contracts for their rentals... do you know if it would be wise to use it to rent out a ROOM in a house?

Also a deal like that would require a clear & executed contract between the parties involved.

My candid advice would be to save your money and be very smart about your first purchase, rather than rushing into something right after college. 

The things I am nervous about is calculating the potential deals correctly, execute the purchase contract correctly with the seller, and the assignment of contract correctly with the End-Buyer.I want to make sure I'm providing great service to the sellers, while getting great deals to the buyers. 

BP Folks:I have a property under contract in NE Philly (19124) and I'm looking for a home inspector.

Have you successfully got a probate under contract and sold it yet?

Failure to memorialize the contract in writing does not remove any of your obligations to the tenant, however, absent a written agreement the "rules" of your lease will default to state law.

Put a contract on it with a contingency and if the bank doesn't like it, move on.I like the HomeStyle  Renovation loan for your financing choice.Best of luckStephanie

The market rent is used to qualify a person, and a person must have experience as landlord or a signed contract with property management company.