So as you know already 70% of the conservative appraisal of 450k is only 315k ( about 45 k less than you owe taking into account that you have paid the mortgage for the past year).

I currently have a potential tenant who makes good income and everything seems good about her, however her credit score is horrible (about 450) and many derogatory credit accounts.

I do not have a separate company set up but do lend directly from my personal accounts.

Hi BP community, I'm looking to open a real estate trust account.

Originally posted by Account Closed:If you use the California CAR form the timeline is specified in the purchase contract.The buyer has a certain number of days from receipt to cancel, so it's best to get it in buyers hands as soon as possible. 

This also doesn't take into account how long it will take to find a long term renter, I have been told by numerous PM that the demand is there and rental vacancy is less than 1%.I am looking to use this home for long-term rental and have found that the average monthly rate is between $1,500-$1,800 / month.

Account Closed my very first building was a four unit in Lyons, IL, and I inherited four tenants.

@Rob D.I keep recommending my clients have an- Attorney approval- Contractor review- Radon test- Lead based paint test- Asbestos test- Septic inspection- Finance contingency for FHA- $2500 repair expectation for any repairs FHA demands- $1 EMD- Engineers inspection- Furnace inspector- Partner approval- Environmental impact study at sellers expense- Neighbor interview- Plumber inspection- Assignment of contract- Well test- HOA rules approval- Certificate of Compliance acceptance- Marketability of title- Town code review- Survey- Soil testFor some reason they keep complaining they are not getting a response, beat out or end up spending thousands in tests and fees only to lose to some cash buyer when they request a repair.

These might attract less affluent white collar tenant, such as nurses, new doctors, new lawyers and accountants.

I have created my LLC, gotten my tax ID number and Dunn's number, opened my business account.