Most sellers will offer only 5 to 7 years with a balloon payment, so you'll have to think about selling it or refinancing to pay off the seller.  

Well, I finally have 3 LOI's (Letters of Intent) signed by the sellers agreeing to the purchase price and terms.

He then had his attorney send my attorney a letter stating the deal would not take place.  

But they said no, I need to ask my bank to get the bank letterhead letter. 

YellowLetters has better customization of letters, postcards, etc in my opinion.

@Matthew Drouin It can be tough squeezing in your entire message in once concise letter.

Do you have your yellow letter company send the letters out for you OR do you have them send the letters to you so that you can send the letters out yourself?

Some management companies will have to approve your investments, some do not.After you have purchased the property and sold it, all profits are then directed back into the account to rinse and repeat.By the letter of the law, every dime made on the property must go back into the investment account with nothing actually ending up in your pocket, but there are ways around this.

Just looking at say Massachusetts where Im originally from where they use a 2 page "contract" which is really just a letter of intent...then they have a lawyer draw up the real purchase and sale agreement, to here in the DC area where our contracts are 50-100 pages long and it is the agents who handle everything with the contracts and no lawyers involved except the title attorney, who really acts as an insurance salesman and not an attorney.I remember reading on these forums that there was some place where the tenants provide their own appliances.....I couldnt even fathom that.

When I've inherited tenants, immediately upon closing I provide them with a letter that gives them all my contact information.