Looks like you've got $80K into this place, and the refi's going to cost you $3000-4000 (some of that is the prepaids), so looks like your new loan is $84K.

And some will only underwrite for minimum durations fully pre-paid (say 3 months policy, you sell in two, they keep that extra month).

Until you get big you won't need a business checking acct. and sorry I can't help with the Attorney but you might look into a pre-paid legal.

The seller signs it, but then counters it and says "up to $2000 but not including "x" prepaid charges or not including "x" settlement charges.

Add in your down payment, and you're initial investment is about $6000.You'll also have prepaids.

I'll note here that he had prepaid rent up through September, so even though he was receiving bills, he wasn't actually paying them, since it was just coming off his balance.Earlier this month we received a summons to court for the amount of $200.

Sounds like you could own or manage the property bought out, if so, I would simply cancel the lease on the books and bring the amount in as new rents under advertising as you probably did with outher prepaid rents deals.

Maybe you can specify something in the lease that if something breaks by the tenant then the pre-paid amount will be applied to the repairs instead of rent.

I hope that my experience isn't the same is yours Vikram.I pre-paid the $20 to attend this evening.

Everyone grasps the idea of prepaid expenses, we pay our yearly insurance and each month we take off that portion that has been used, if we cancel the policy, then we get back that portion that is as yet unused.