You will have to be prepared to foreclose if the buyer doesn't meet the terms of your agreement.

It is smart to make sure of a reserve or your borrowers have the cash to get out of a crunch.

I bought my first investment property that is currently cash flowing well I have talked to my bank and they said I can pull $100,000 of equity out on the house.

I let whoever moves off know they are still fully responsible for the terms of the lease.

As for taking a long time to get paid, that is Innago's policy.

Purchase price: $2,792,500 Cash invested: $50,000 Contributors: Trent Werner, Chris Shepard GP Investment.

I see many times the deals get sent to the attorneys to "handle it" but this should be sorted out upfront whether tenant stays or goes.In terms of having the tenant removed, there is no way to have them removed from the legal perspective if they are paying rent and you weren't going to move into the unit.

Throughout 2023, we have published several articles on DSCR loans, introducing the BiggerPockets community to how interest rates and terms are determined, giving answers to frequently asked questions about DSCR loans and talking about exciting new developments and expansions of the product, including DSCR loans for five- to 10-unit multifamily properties.This article will cover another big aspect of DSCR loans–specifically, what documents you will be expected to provide once you have decided to go with a DSCR loan.

@chrisSeveney should have some good advice as well.if this is NJ one thing I do know your in for a long slog and fairly costly

Good in the long term so I didn't have to worry about the utility bill but like you mentioned - high upfront costs and time consuming. - Equal Splitting (ratio utility billing) - What I've heard from lawyer friends who practice real estate law is a trending spike in resident issues.