Unless you have some auto-triggers in your lease with regard to increases in rent or utility coverage (if paid for by the Owner) then a 2yr lease may not be a wise decision.You also want to stagger your leases so that both are not coming up for renewal at the same time (I like a min 3mth stagger).1yr lease gives you flexibility to rid nuisance tenants, slow payers, increase rents, etc. 

I'm on the verge of pulling the trigger on ProspectNow.I would like to hear a review with some specifics, especially someone who really worked it.  

Is there a weakness in the wording of our PoF that triggers this reaction?

You have had other threads addressing this.By law, any lease over three years or any option is the transfer of an equitable interest and can trigger the due on sale clause.5K is not a ton of cash, 40K is close to a half a tone, a significant amount, an amount that if someone gets messed over by your lack of knowledge, they may well be ticked off enough to go get an attorney, if it's 5K, such action is not really worth it.

Rob, I think you would trigger the due on sale clause, but these forums discuss buying property subject to the existing mortgage, so maybe search that phrase and see what it says and if you could use it.NOTE FROM MODERATOR: Please see Rob's post below.

It is one of the true "grey areas" of real estate, as there are many debates as to whether or not it will trigger the due-on-sale clause and/or whether the lender will accelerate or call the loan.

Tanning beds, inventory and massage chairs, etc.

I ended up massaging the fine as part of the security deposit but it just goes to show how immature and powerful these ex parte boards are.

Changing the beneficiary(ies) will trigger a change in ownership in CA and thus, require transfer taxes to be paid.Kevin Yoo also mentioned some very important items that are true in many areas, particularly CA and that is the use of large EMD, short inspection, quick close.

Old Oriental Proverb: Before kicking sleeping trigger like Michael Quarles, you best have a plan to deal with the teeth!