I'm curious to see how you have your language set in your contracts - Thanks again!

Property Tax is $2300/year, insurance shoudl be around $2000 (thanks Katrina).Using the 2% rule, max purchase price is $65,000 so I'm definitely in the clear there.Using the 50% rule, monthly operating expense should average $650/month over the long term.Numbers: Revenue: $1300Expense: ( 650)Net: 650Debt Service:( 482)Cashflow 168/monthI'll have official comps from my realtor here shortly, but we're expecting the comps to come in at around $75k.

In the relisting, the agent has the following language, "Short sale APPROVED!

Just make sure you are not practicing law without a license.If they want a bunch of items changed back and forth from a pre-printed contract with extra language you need to coordinate that with a commercial attorney.

This will mean that you are recognizing the difference as income.If you are making principal and interest payments, you will will be able to deduct interest and the property taxes you are paying even if the title has not officially changed hands.

I have came across a 3/3 duplex that isn't OFFICIALLY listed on the MLS, but is delinquent in taxes for 2 years now.

I do not know if Freddie Mac has the same language:"In the event that I do not occupy the property as my primary residence in accordance with the above certification, I shall pay Ten Thousand Dollars ($10,000) to Seller..."

To make it worst, everytime I get an email it goes to spam, when we call them I don't really understand them(english is not their first language & being downsouth it is not mine either) they don't understand me.

Other than that you can really use any lease you find on the internet and modify its language.

Officially, you would do a new note and DOT and also record a "release of lien" to remove the old one.