MAINTENANCE: Landlord agrees to maintain the structure, roof and foundation of the Premises, and the heating, plumbing and electrical systems of the Premises unless the repairs needed are a result of any act or omission of Tenant (excluding normal wear and tear).

In my neighborhood house values have gone from the peak of 185,000 with foreclosures down to 75,000 at the bottom.Now it has gone back up to 85,000 to 90,000.Most of the foreclosures are Freddie Mac in my subdivision with a couple Fannie Mae's.I do the bare minimum to maintain the house.I am not worried about the value and simply the mortgage payment is much cheaper than rent for a similar house in the area.Eventually if you hold long enough it will rise back up to meet debt payoff.I don't see the primary residence house as my source of retirement.I see the other owners taking great care in my subdivision of their properties.This can only help the development to rebound sooner in value.

You also put less into maintaining MHPs versus Apts.

Hello BP:I have an interesting situation.8 years ago, a residential property was purchased by my client and converted to a bed & breakfast and has been functioning as one since.Client now wants to sell, and, due to the fact that good records weren't maintained, it's being sold/marketed as a residential property.Someone I work with in REI with quite a bit of mortgage lending background with underwriters advised me that whoever buys the home will likely have a very difficult time getting the deal done with a conventional mortgage, because during the due dilligence phase, the lender will find that the property has been running as a bed and breakfast, and therefore will shy away from it... even if the stated intention is to use it as a primary residence.Can anyone with background on how the risk factors of these deals are considered and underwritten, or knowledge of common underwriting practices shed some light on this?

I find 3 units to be an ideal entry level rental building for the investor. irrespective of the neighborhood, it becomes important to have a great management company to maintain your building and answer service calls. 

Maintained "new" like condition.

Does anyone have experience with tenants maintaining an artificial lawn? 

Times are changing and so we want to do what is fair to all - and we are called to protect the owners' investment primarily, and maintain enjoyment of the home for the tenant. 

So stoked!

“You are responsible for maintaining the safety of a home; that’s what codes are for,” she says.