We were told the house was undergoing renovation and it would be leased after completion. well, after a few emails and the assistance of one of BP members we found out the house is actually occupied..

one for all and all for one..You all are in violation of the lease if anyone permits a extra person to live in the house with you.So landlord has every right to terminate all of you.

That falls right into line with some of the articles on here which suggested around $180/m per house.This house is in good condition and I still result with a fairly high budget.After all of my expenses (mortgage, taxes, insurance, maintenance, vacancy, pm, lease fee) I am left with a Net Cash Flow of $180/m.

(It’s been about 1 mo and this is the only applicant that has even passed the leasing agent’s screen).

Specifically as far as clauses/ rules to make sure are in the lease and any tips on screening tenants.

The condo can easily bring in the rental income and I can sign 6 month management leases with the property manager.

So I signed Lease Option with this homeowner, but she still owes two payments for the burglar alarm company.

If you consider that tenants are often in 1 year leases, it is often the case that rents cannot be increased as quickly as the appreciation.

We are all on the lease. 

Hello Chris,  The main purpose of obtaining a real estate license is to that you can lawfully recieve a commission when buying, selling or leasing real property for clients.