Survey of mortgage terms (click to enlarge):From left to right, 1.25 points, 1.5 points, 1 point but $41k in fees.Prepayment penalty: 5 years declining, none, 2 year lockout followed by 10 years defeasance.Commentary/review/discussion: I tried to provide three very different options here, but all still real ways that people actually acquire such assets.

For example, Revocable Trust do not provide asset protection like LLCs do.

Ultimately he is responsible for his own safety so long as you are providing a safe dwelling; however, if he is endangering others you have a couple remedies as I see it.

Have the agent you are working with look at the Reallist on the mls, get the name of the servicer for the loan2.

Home insurance won't cover a lot of system failures like electrical.Home warranties are designed to make the warranty provider money; they are slow to respond, quick to reject claims, charge you a trip fee for every visit, use the lowest-cost vendors that provide quick-fix solutions, and are generally not worth the paper they are written on.

Anyone in OUR situation (who is not in the 1% of 1% and has dividend / investment income that would provide a sufficient means of living otherwise) is going to be totally focused on cash-flow.  

It also means planning for potential increases in debt service, depending on the type of loan that you have.

There was some minor root intrusion at the very front of the property and this tracks with my service plumber who last came out ~2 years ago and cleared some roots when the back house was experiencing back ups. 

If the tenancy is a specified lease term under a written agreement, and the lease term has not yet expired, you cannot impose a rent increase during the term, unless the lease agreements provides that you may do so. 

This service also subs the legal work out.