It seems fair since showing the property, screening applicants, back-round checks etc, taking pictures and documenting move in conditions, and after move in inspection all take extra time.

:idea: I recommend checking their credit, employment, condition of former home (surprise visit) or apartment, and condition of their car before you let them move in.

if you can easily afford the payments on a good condition home that you'd be buying for nearly 30% below cost i dont' see why you'd have a problem getting the loan- get out there and get your approval ASAP though!!

If your house is much bigger and you can't find anything in the last year that sold more than 1000 sqft and lets say it sold for $95,000.00, then you would divide the $95,000 by 1000sqft making the home $95.00 per sqft, then multiply your house $95.00 x 1500sqft for a value of $142,500 after the home is rehabbed to be in as good of condition as the comps.

With regards to severing the agreement earlier than 30 days or not; it probably isn't worth the potential disagreement over one month's management fees, and absolutely isn't worth it if you end up needing to involve a lawyer to settle any dispute.

Lawyer up. 

You can do it, but I would recommend getting your specific road map for this from a competent lawyer and shy away from self proclaimed real estate gurus telling you how to outwit tax law--take your advice from a professional or you will not get professional advice.

The trustee should be someone else that Joe Buyer chooses (could be a lawyer or a very trusted friend).

I'm relatively comfortable with the condition of the plumbing, electrical and hvac systems since I've had my fingers or checkbook in all of them within the time I've lived in the house.Just for info, I decided to "retreat" from the other purchase and see how things settle out for a while.

You will just have to find a deal and "sell" the idea to her if she is needed to make it happen.On your personal assets, if you are concerned you can talk to an estate planning lawyer and discuss personal and family trusts to hold assets.