I am concerned about getting a quality renter in the winter.

Are there any helpful clauses above the standard lease contract language that any of you have put into your contracts or wished you had?

1.As an AGENT (i.e, you have established an agency relationship with one of the principals in the transaction), you are required to complete the agency disclosure form, it is a standard CAR form.2.As a PRINCIPAL (i.e. no agency relationship), there is no legal requirement to disclose your status as a real estate licensee, in CA.

He also mentioned you help the middle class then they go buy tv's,cars etc. and it drives the economy.My problem with this statement is that he said we lost 9 million jobs in the recession and hired back 4.5 million.The problem is the QUALITY of jobs that people lost and the jobs they had to take as a replacement are nowhere near each other in income levels.I would venture a majority of the new jobs are low income where you tread water paying the bills .In this case consumers will not have much discretionary income to spend on extras to drive the economy.

You just have to rehab the house to the quality and finish (or just above) of the other comparable homes in the area.I think it reasonable to try to compare how much we all pay to redo a roof, or paint 2000 square feet of house; but overall dollar totals aren't comparable.

Another thought on this thread would be to prepare a comp workup of other similar properties in the neighborhood and show them how many days they averaged on the market for a standard sale.This way you can help the family decide if they are willing to wait to get a market offer or if they really need to liquidate the property to sell in less time.Additionally, I agree with the other comments, one quick sale below market will not create a market.

Our safety net programs allow people to do zero work and have a standard of living that is well above half of the worlds population.

If the standard house is 3 bedrooms and is renting for $850, you are not going to be able to double the rent just because you offer twice as many bedrooms.

For a quality urban to suburban NNN property hitting a 10 cap is going to be very,very hard.You can't make someone want to do business with you whether that be a potential buyer or a seller.

Demand will be strong at this price point as the competition will be significantly inferior quality.24 unit complex (4 buildings x 6 - 1br units) built c.1978 - end of life interior but exterior structure / mechanicals appears sound.NOI forecast at 83k.Renovation budget at $375k inc contingencyPurchase price of $250kOur Bank will go to $565k @ c.4.25% for 5 years with 25 year amortization - they hold the note for the existing owner and know he is slipping into the default zone.