Louis, MO that closes SUBJECT TO Deals?

While I believe that rating rentals is relative and subjective, I will tell you how I rate my rentals and maybe it can be helpful to you (or maybe not).

The time to pay for the inspection is after you have the property in contract, subject to your approval of the findings of the inspection report.

Well, subject to a good price :)

You may want to pick up a book or two on the subject as well!

I would imagine they wouldn't balk at signing a new month to month lease that has basically the same provisions that they are living under.If you want to jack up the rent or make some major changes (Like saying no pets but they all have pets) then you might get push back or have people leave.I'd get the tenants to verify what the landlord told you and them ask them to sign your documents which will go into effect subject to you actually purchasing the property.

I have an opportunity to purchase a home tomorrow subject to the existing mortgage (~60k) which will give me immediate ~25k or so in equity.Do any of you had advice to purchase subject to with the due on sale clause or to avoid the transaction?

Residential, owner occupied is 3 months PITI, BTW.Commercial will be 6 months to a year, rather subjective really as the type of property, age, condition, location, market and expected income are all considered.

@Karen Margrave --funny, I am reading one of your blog posts on the subject right ow.Looking to buy 25-30 Rental units in Detroit or San Antonio market as a start.

Then the personal property would not be subject to real property depreciation, which defeats the objective.