(The cleanup ended up requiring two 30 yard roll offs which I assisted with since I sold it to a friend) They offered to let me have it at $25k cash vs. the $35k on contract so I said I would write it up in a way that it could be closed either way in case I couldn't find the $25k cash.

Make sure that anything landlords promise you at the time of signing is in writing somewhere because, in general, whatever is written in the contract holds, anything else promised verbally, generally will not.Hope that helps!

Escrow agent will hold said Quit Claim Deed until such time as he has been notified in writing by lender, that borrower is in default in payments under the Loan Documents, written notice has been provided to Borrower as defined in the Loan documents, and Borrower is at least 60 days past due on any payments due under the loan documents.3.

BKs, write-offs, collections prior to the six months I just ignore, but issues during this time is my primary criteria - - what's happened here will happen to you too.

On the front of the envelope (which can contain blank paper or whatever) write "address correction requested".

(I am writing about general terms, there is lots to know about this process, you should research it for yourself if you think you want to do this).I did one about 7 years ago where my tax would have been $40,000, I did an exchange for a house in Florida, it turned out wonderfully, I saved the $40,000, increased my equity and cash flow, which means I was able to buy at a greater value and not have to kiss that $40,000 good bye!

Finally, use all these numbers, including purchase price, repairs, rental income, expenses, and sales price or cash out refi after X number of years (you can play with these parameters) and calculate IRR on the series (can use the excel function to do this) ... this is your total return, over the life of the investment, including ALL sources of profit.

At this time, if I were you, I would write them a letter, email, leave them a message, dictating your rental policy as spelled out in your contract.

As a new investor in the learning stages I'm gearing up to purchase my first property in 2016 and writing down a few goals for the upcoming year.

3.Should I give up all hope on saving hard money costs and write it off as a cost of doing business until I put up all the construction costs myself?