This is to ensure that both parties are aware of the loan and to protect the lender's interest in the property.

If you have doubts get the extended warranty. 

Maybe this would also make it worthwhile to jump through the city hoops to make the basement a legal unit.Then you could maybe put a LTR in the basement who could assist with the STR in the main area.

Welcome to BP - you've come to the right place for resources on real estate investing!

Can the seller sue?

Much older than most of the other listings I'm into but the rough numbers indicate it would be pretty profitable (+$2,000/mo).

Hey Kiraat, how much is your tenant in the rears for?

So the loan for the rental shows as a debt but the income is not reported to the bank where we are trying to get the new loan.

I live in North Georgia and a few people have said the town in general has declined since the casino was built but I figured that would draw more interest and the numbers still look pretty good.

Finally, if I depreciate the value over 27.5 years to deduct?