To reiterate above, the variable rate is not the issue, it's the attempt at new terms with punishment attached if not accepted.FWIW, if I recall correctly from 5 years ago, my loan officer casually mentioned that the loan will be "in-house" which I understood him to mean is not a federally backed loan and they are lending directly, but I didn't ask for clarification.Maybe my loan address was included by mistake for this mailing because of that categorization, but still, gahh.

@Benjamin Greiner just commented on another post about a tenant threatening to sue over mold issues - that tenant neglect caused.We told the landlord their lease should have had provisions in it to hold the tenant accountable for the damages.Standard leases only cover the basics, so you should Google all the leases you can for ideas to take to an attorney to include.

Making that first investment in real estate can feel like a big leap, especially when you're considering factors like your savings, potential risks, and the market conditions.

I have never done a land trustWe have a living revocable trust that we set upHonestly I should have done it 15 years ago but did it like 6 years ago.I do not see the need for a land trust unless you are a politician, actor or athlete (someone who is famous).I have done business with multiple billionaires (not bragging but trying to make my point) including several that owned professional sports teams - and even they did not use land trusts…

Do they usually do a monthly flat rate (this would include the winter when its not needed)?

What is included in the rent? 

Dealing with nightmare sellers, including a dog left unattended for days, a break-in, and hidden foundation issues sounds like a real challenge.

The purchase price is listed at $285K and that includes ownership of the land, laundromat, and shop. 

Typically each chapter would have a housing board, that could include alumni.

Consider aspects including property location, market circumstances, financing arrangements, and long-term investment goals as you carefully study and assess your possibilities.