As per the rental agreement, I collected $50 per unauthorized occupant and they had to leave.

Between a day job and flipping income you may hit this.And keep in mind that if this really is your job and you expect to collect social security someday the amount of income you report now will affect what you collect later.

It's a collection of the best flipping info from the site.Oh- last thing: Have you setup your "Keyword Alerts" yet?

This clause gives me the "option" to back out and I won't risk loosing my $500.As for my buyers; I ALWAYS collect EM from them.

I would think if you own the property free & clear it would be easier for them to foreclose to collect their lien even if it wasn't in a super-lien state as they don't even have a first mortgage to worry about, although not a lawyer so don't know for sure.

I believe you'll have to sign up somehow to report information to them and I'd imagine there is some sort of landlord screening process and requirements to make sure that random people don't just sign up and send them faulty data on tenants.http://www.experian.com/rentbureau/renter-credit.html

From talking to the guys at the planning dept you don't need an engineer's report to build on these houses.They were all built at the same time in the same way so maybe they have enough data now?

Bear in mind you already have 10% or $100k to pay for costs of enforcement and collections.

@John K.Our lease (actually the schedule 'A' to our lease) identifies the tenant is responsible for any by-law infraction fines assessed as a consequence of their failure to fulfill their obligations and responsibilities (put out garbage, clear snow, or mow the lawn, having non-operable vehicles on the property, etc).When we receive such a fine from the City, we pay it and then send the the tenant a letter and invoice for the amount of the fine, plus an administrative fee to cover our bookkeepers time to issue and collect the invoice {though we typically waive the administration fee on first offences}.

It's a collection of the best flipping info from the site.