This is why so many investors get into legal trouble or lose all their money.

The only way to legally wholesale here in MA is to double close. 

It will reduce your debt service and allow the asset to cash flow better.I would also make sure to do long term rentals with 12 month commitments minimum.

I do run into older investors usually 70 and above who own big size portfolios and that was there business for decades running rentals. and by then they are all free and clear.. cash flow very large with no debt.. and monster equity of course even if the props never went up.as long as cap ex and turn over did not kill them along the way.. its the back bone of being a landlord..  

I can still legally back out of the contract if needed but I would love to hear from your guys first!

I am leaning toward just starting fresh on Dec 1 and keeping them on a short lease (i.e. start the eviction as soon as I legally can on day 5 rather than waiting until my customary day 10.) 

Of course, if you apply leverage (debt) to these investments then the returns will be better than 7 or 8 percent (which is why we are in this business in the first place). 

Acceptance of rent from someone constitutes a legally binding, oral lease agreement.

Its just a matter of time till Mary Jane is legalized in most states.

Is it legal??