However, they only paid $600/mo. at their last place so I'm not sure if they will be able to keep this up.Then one of the two remaining tenants sent me an email hinting indirectly about what would happen to the security deposit if they had to move out before the end of the lease.I am thinking of two options:1) telling them I will let them out of the lease early if they stay at least until January 1st (so I don't have to deal with the holiday vacancy problem) and stay current on the rent until then, and I will give them back the deposit if the place is in broom clean, undamaged condition, as per the lease.2) lower the rent to $800 to keep them there (I haven't had any real issues with the two remaining people, and they are taking good care of the place).

With the stock market you have virtually no (legal) control over which direction a security goes.

I just turned 30, so I am looking for more risk vs. security.

I would make sure you have a partner to be the bad guy if you gotta throw her out.

Also, throw the 2% rule out the window.

I will offer 97k max, I have 30% cash downpayment and have secured financing for remainder.

Also make sure you can secure the property at the end of the day, i.e., verify all door and window locks are serviceable lest the squatters move into your job site without so much as offering to pick up a paint roller.Then grab your sledgehammers and go to town.

I have the seller sign a Letter of intent to Lease and To OptionThe letter of Intent covers...Address, Rental Term, Renal Payment per month, Security Deposit, Possession Date, Option Sales Price (could new appraisal), Option Money (usually 3% or $5K min), Representations, Warranties, Covenants, and Indemnification, Legal Effect, Notice of Intent to Assign, Option Period (45 - 60 days)I have them sign the letter of intent (LOI), it goes to my attorney, and the attorney prepares the paperwork.There is an option release disclosure document that discusses that the buyer will be responsible for the following fee’s to be paid out of escrow at closing, which are for the release of the recorded notice of option, the assignment of negotiated purchase price, and the negotiated rent.2.

I've had some tenants that were borderline and they agreed to give me first month, last month and security deposit since they really didn't qualify and sometimes these are my best tenants.

You should have had a buyer lined up long before signing a contract and throwing your earnest money out there.