For example, you buy the place and the tenant could claim the Seller allowed them to paint the walls black or that their security deposit was twice what the Seller claimed.

The seller has already provided soft copies of the 1040 to the bank but with social security numbers and other personal information blurred out.The question is... why does the bank need the sellers 1040 from IRS?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If there is something in your lease or a law you can probably keep the security deposit up to the amount of notice the tenant was supposed to give.

Also, secure the windows very well or you will be dealing with squatters most likely.

I want to share a story about how our team was able to secure 3 off market properties we are closing on today.

You will need to work with seller and lawyer to draft up a copy of agreement.Think about it as a regular real estate transaction, however upon sale- the owner then becomes your bank.

At that point, it's a race to see who calls the client first.You might consider setting up a farm area and then using one of the mailing companies to do regular mailings to start building up a presence in the neighborhood.By the way, your broker is being VERY generous!

@Ken Konecny It was just a regular single family in town.

He regularly inspected properties in that area and knew the stock very well.