For instance if deductible to fix is 1,000 and bill is 1,500 you might want to just pay cash so your insurance rates do not go up and you have a claim on record.

I am sure there are standards (which others can comment on) however at the end, you have to give him enough of what he wants and he has to give you enough what you want to get the deal done.I suggest that you write down how you want the arrangement to be laid out, then talk to him with the goal of seeing if he is interested.

@Stephen Loguidice, I'm not familiar with the New York inspector standards of practice, but here they are from the New York Licensing Website.

Let me know if you want me to take a look.As a side note, check out Cozy.co for rent collection and also a way to market your property and receive standardized applications.  

Heck even give them a $10gift card (remember they're tax deductible gifts to clients!)

I would only look at a multiple of net, this would be deducting a salary for someone to mange the business.

There are Portland zoning rules that allow ADUs in the setback, as long as they conform to certain standards (no windows on the property line side, height restricted at 15 feet through the middle of the gable, medium roof pitch, etc.).  

You might get lucky and they may leave.You will attract a higher quality tenant if you avoid section 8 by setting your screening standards higher.

I've also had the opposite happen where the bank did let the buyer walk and the property languished for months back on the market.If you used a standard contract, there should be a clause that states that the seller is to maintain the property in the same condition throughout the contract period.

In addition, I've been renting out two rooms in my place for about four years at an average return of $750 a month.I got within striking distance of paying off the mortgage this year, but decided to invest in liquid index funds and keep the mortgage interest deduction coming.