You have learned a powerful lesson, tenants lie, first hand.

What is the renting criteria and do you double check the agent to make sure they did the due diligence to confirm the potential tenant actually met the criteria and didn't just lie?

hi all quick question... i hit a wall ....where i bought a property 5 years ago it appreciated greatly just refinanced it so i took out my initial investment and then some ......for 20 years at 3.5 % but now my debt to income is high and its hard for me to qualify for a regular mortgage due to high real estate prices. so i want to buy 1- 2 properties but there lies my problem.

hi all quick question... i hit a wall ....where i bought a property 5 years ago it appreciated greatly just refinanced it so i took out my initial investment and then some ......for 20 years at 3.5 % but now my debt to income is high and its hard for me to qualify for a regular mortgage due to high real estate prices. so i want to buy 1- 2 properties but there lies my problem.

I believe you are being lied to regarding staying for 2 years as Deanna suggests.

I would first assume they are lying but you must work with the HOA to confirm the letters were sent to be able to force your tenants to pay.

However, there is a development (not re-development) plan  for the immediate neighborhood that it lies in, in which they are proposing zoning plans for each of the parcels in the area.

@Karla Parraga, main thing is: don't lie about it.

If you have healthy reserves, and the $1500 difference is chicken feed, then *most of the time* it pays to be self-insured as much as possible.

I would much rather go to a pancake breakfast at the vets club, a chicken BBQ at the Elks club, a carwash for the local high school sports team, buy candy for an educational trip to somewhere for kids, Donate to the Lions club for the loan closet......