There will be a specified timeframe in the contract so if the seller cannot perform due to the issue at hand you should be able to execute the notice to perform and put it on them.

I will definitely be checking deferred maintenance during the due diligence period and most likely there will be some needed.It's definitely not 100% turn key, there are most likely some renovations I can come in and value add, especially in the exterior and extra security to make the residents feel safe as it is a C class area. 

I am also having issues securing my VA Loan as I am in the middle of transitioning out of the Army.

If you knew there had been no appraisal yet, in our state, we send the buyers a NOTICE TO PERFORM, which gives them 2 days to get whatever done on the contract, or seller gets to cancel (and still has to give deposit back)Sucks if you are the seller, but the contract is written to allow the buyer a way out in this case. 

Please show me your bank statements to provide some amount of assurance that they have some number of months cushion so they would continue to be solvent in the case they get sick or in some way can't drive / perform the activity. 

Hi,Newbie to biggerpockets here.We closed on a house in Chicago and our property manager is adamant that we return the security deposit that was transferred over from the seller.

In other words, you are probably going to end up paying the bill unless you can somehow get the tenant to pay.If a tenant leaves, you should be able to verify the bill status BEFORE refunding any unused security deposit. 

Then I’d set aside about $3mm for my startup costs: Office leasing, my securities counsel buddies from Cravath...Bloomberg terminals and jet leasing.

I’m currently recovering from a surgery and instead of laying about playing video games I’d like to get myself,kids ,and wife on track to financial security and freedom.

The consultant’s there to draw up a budget, not so much perform an inspection.