Assuming the applicant passes normal screening I would instruct them to set up a separate account of their own, deposit the years rent, and then provide me with 12 post dated checks for rent drawn on their account.Many offer the money as a bribe due to the fact that they are not qualified applicants.

I found the form and it opens by saying "General Instructions: The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy of thereof to be delivered to a buyer or buyer’s agent prior to the signing by the buyer of a binding contract of sale." - Never received this.

Loose receptacle or leaky faucet, a few days or week with instructions to not use it or temporary fix (bucket) is probably fine.

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Recharacterization of Passive IncomeNet income from the following passive activities may have to be recharacterized and excluded from passive activity income.Significant participation passive activities,Rental of property when less than 30% of the unadjusted basis of the property is subject to depreciation,Equity-financed lending activities,Rental of property incidental to development activities,Rental of property to nonpassive activities, andLicensing of intangible property by pass-through entities.ReferencesIRS Publication 925: Passive Activity and At-Risk Ruleshttps://www.irs.gov/publicatio...IRS Instructions Form 8582: Passive Activity Loss Limitationshttps://www.irs.gov/publicatio...

Otherwise it would be in the escrow instructions for me to be paid out a specific amount.

I have seen posts edited or hidden before, but never a whole thread removed.

You should purchase both owner and lender's title insurance to make sure your and your parents interest is protected.Typically, you would want to instruct the title company that you want to close only if the title is marketable, not just insurable.

They can provide you with instructions on when/how to increase rent.

I just hope you don't respond to this post telling me something I didn't do :-) I just followed instructions.