If the schedule slips by one week a make up schedule now must be submitted.The contractor must list all subcontractors he will contract out to and you introduce you and you go over with them can they meet the schedule if not they are out.If this contractor is not performing as agreed send out a delay notice to put it on record in your files.Penalties should be included in the contract for liquidated damages and your contract should say you have the sole right to supplement the work regardless of who's name the permit is under and hopefully the permit is in your name.

Friends of friends or not, that property is a business and it's not performing.

Both perform very well, precisely because Orange County is not oversaturated with vacation rentals.

pid=1697Houston Real Estate Highlights in January:-Single-family home sales jumped 14.3 percent year-over-year, with 4,699 units sold, marking the seventh consecutive month of positive sales;-Days on Market (DOM) for single-family homes extended slightly from 66 to 68 days;-Total property sales surged 15.2 percent, with 5,800 units sold;-Total dollar volume rose 17.1 percent to about $1.6 billion;-The single-family home median price increased 4.5 percent to $234,000, reaching a January high;-The single-family home average price climbed 4.6 percent to a January high of $291,034;-Single-family homes months of inventory was at a 3.5-months supply, down fractionally from 3.6 months last January but above the national inventory level of 3.0 months;-Townhome/condominium sales jumped for a second straight month – up 20.9 percent, with the average price down 3.5 percent to $186,582 and the median price down 5.2 percent to $149,750;-Lease properties experienced a strong performance, as single-family home rentals climbed 14.5 percent with the average rent up 1.7 percent to $1,782;-Volume of townhome/condominium leases rose 5.6 percent with the average rent up 5.9 percent to $1,598.

All of this is spelled out in my contract, which he signed before he began the work.It's Wednesday 2/12 now, and he still has not completed any of the tasks on my scope, also spelled out in my contract.

Just like if the landlord pays utilities or lawn care or snow removal or whatever maintenance needs to be done....its an expense..... you get the tenant to pay it via rent or you eat the cost yourselfWhen you leave those types of tasks to the tenant you take on the risk that they will either not be done or will not be done properly... that's on you.

What is the performing Cap rate now?

With a smaller unit, you should be targeting greater then 40%, and most of the well run, higher performing homes do significantly greater then 40%. 

If so, I would perform the mold test to check that box...would hate to have a tenant come back blaming you for some crazy illness later.

.- Don't include any questions about criminal backgroundAfter processing the application, send out a credit approval/rejection letter.If approved, you may then obtain written consent to perform a background check. - If background check passes, send an approval letter.- If background check doesn't pass, send a 'right to dispute letter'