I hadn't bothered to issue him a lease, since this being NJ it's very difficult to evict someone for other than non-payment, and you cannot simply choose not to renew.

For rental purposes though I  think most just have to figure out what they are willing to do vis a vi risk / reward.. also in your numbers above there is no PM.. so for mom and pop self manage that's what I would consider pretty attractive for non appreciating or historic non appreciation markets.. 

If you don't have enough Solo 401k funds to purchase the property as an all-cash deal, you can combine your Solo 401k funds with non-recourse debt to purchase the investment property. 

It's not a 203k requirement that the home be in unlivable condition, but odds are the listing agent is going to tell their client to throw your offer in the trash if the home CAN be purchased with a vanilla normal non-reno loan.

Looking to BRRRR in Birmingham out of a Self-Directed IRA (Non-Recourse Loans). 

How do I find public reits for non accredited investors?

I compare this with a quick verbal or hand-written rundown of a cash sale.Since I am a real estate agent, I present both sides to the seller and let them choose what is best for their scenario.

- What happens in either a non-payment shutoff or a flood-type situation?

Hi, I was pre-approved for a non-QM loan and am very close to sealing the deal on a duplex. 

@Lynnette E.And you are very right, if we could get by with just clean we totally would and are cutting any non-essential projects.