I always ask landlords if my applicant has given proper notice and if they are breaking their lease.

@John Vietmeyer show the underwriter your signed lease and that should satisfy them to allow you to start a regular policy.Underwriter don’t want to be stuck with a property that will be vacant for months but they do understand the realities of gaps between tenants.

Great way to give back to the community just make sure you protect yourself w good lease and upfront communication (language barriers?)

. - List price is $195,000- Sq ft: 6200- It’s been on the market for over a yearTaxes in 2016 were $4720- Apartment on top floor has been consistently leased while the building was in use.- There is mold according to the agent- I asked about lead paint and asbestos but agent wasn’t forthcoming (or didn’t know).- Building was built in 1940, all brick- There’s a loading dock and large garage door in back.

About 3% vacancy given, I prefer long term tenants with average rent rather than 1 year lease (turnover) with market rate. 

Projected rents being the lower of appraised rent or current rent (if current leases are in place).

Most of the lawyers that I contacted are not familiar with the usual investor contract such as, assignments, lease options, etc.

Make sure when you do find a acceptable applicant that you do not offer a term lease.

The basic concept of a lease option is that people want a good deal of money for the property, but it's close to retail, so flippers and landlords (generally) don't want it, because it doesn't allow for profit.

I'm also looking into Lease Options.