ie... non refundable deposit if they decide not to move in or something to that effect...

Trusts are effective for the life of the trustor(s) - so these are a sign that someone is estate planning.

But in this case, I feel obliged to do so in order to warn others before they put down $10,000 of their hard-earned money.I have been a "Preferred Investor Group"(PIG) member in San Antonio for a little bit over a year or so and have purchased 2 houses thru Lifestyles.I choose to post with a psedo identity as it is not pragmatic to criticize a organization after paying a hefty sum in advance (which effectively precludes you from using services from other organizations).I disagree with some of you who may claim that some of the below points are trivial.

Information and connections are solid tools in this business, as with many others.

You always sign a personal guarantee on a hard money loan, so if you default, and the foreclosure doesn't make the lender whole, they will go for a deficiency judgement.You use the tool appropriate for the job at hand.

You could each borrow $50K from your plans and "default" on the loans, effectively creating a distribution.

Also, while biggerpockets is a great tool, nobody here has a vested interest in the success of a fellow member, but a coach paid on the profit of a deal does.

If I want to renew the lease for another term, I have them sign a "lease extension agreement" that lists the dates of the new term, the amount of rent (if it's different), and the fact that all of the other terms and conditions of the original agreement shall remain in effect.

That said, as Bill points out, no the little guy will never be pushed out of the market because at the end of the day, the little guy should be niche and local providing for faster disposition times and more effective asset and cost management.

Water issues and mold are probably just effects of your bad roof.