. ;)Honestly I'd rather have her move out first so I can spend some time cleaning up and fixing minor items (picture nail holes, wiping down/touching up walls from having two small children in the house, etc).

If I can get a 10 cap on a good condition property in a growth area with CPI rent increases I'd grab it - long term great ROI with few problems.

I know it was DONE RIGHT and cleaned up after, ie; no roofing nails left around for my tenant's kids to step on!

If you have $40K in the deal and the market valule is $45K -$50K, then your purchase price is between 80% - 88% of market value, which is too high for me.I would suggest trying to really nail down your rehab budget.

Awesome question.I read a lot of the replies, not all, and didn't see what I felt was the correct answer.You hit the nail on the head.

I hire people who are practically homeless who work really cheap to help with mundane tasks like cleaning up roofing debris off the ground, pulling the carpet nails and staples up, painting trim and general cleanup but do everything else myself.

I can't think of any situation where I'd let a buyer move into a move-in ready home of mine prior to closing.If for some reason the property doesn't close, the best case is that I have to wait for them to voluntarily move out, will have to touch up the paint, clean the carpets they messed up, clean the toilets/sinks/showers, and fix the nail holes in the wall.

paid utilities for me is never a good idea unless there is a cap on it specified in the lease.credit check depends on the location and type of property you are trying to rent.Ability to pay is what I look for along with background check and rental history and generally if you do it long enough you tend to get a feel when you talk to applicants and how they fill they application.2 months free is a tough one I never do anything like that it might make sense if you have a long term tenant but there is nothing like a long term tenant.

I've mentioned this many times, but all that equitable interest stuff is fine for someone who flips a contract, but when you start flipping contracts as a business that stuff doesn't always hold water, you're in the business of real estate and you're assigning contracts to circumvent license laws, which is how they nail them in Mo., being in the business of something is much different than doing something as a personal one time investment.

Sometimes a person is so enthralled with what the tool does for them (or thinks it does) or someone they know, that they sing its praises to all who will listen (I'm reminded of the old addage - when all you have is a hamer, everything looks like a nail.)The best course of action is to learn as much as you can; tak to someone you trust; and, choose the course of action that makes the most sense for your circumstances and goals....