Whether or not you are trying to play into his games is irrelevant.Think about this.

We currently own our home and we are in the process of renovating a lake house that we plan to hold as a short term rental.  

@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.

If you are just holding the lot, then there are more favorable terms available than what you are currently experiencing.I always recommend shopping at least 3 different lenders (even more), as every single institution has different terms and requirements, and they all offer different financing products.

However I would not consider them to be truly passive because they do not put any skin into the game like a good passive investment does (via a sizable coinvestment).

Investment Info:Townhouse buy & hold investment.

Investment Info:Townhouse buy & hold investment.

bank.. which bank do you use for receiving your rents and holding security deposits.

Partner ended up holding the note, and is on title.

Note: I bought my primary home in Georgia because the home next to my mom’s that I grew up in went for sale, so I plan to hold onto it longterm and put it in a trust with my mom’s house.