Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

@Erik Hayhurst I track multiple properties in Excel and have tenants pay rent by going to my bank and depositing in my bank account, setting up auto draft to me, Zelle or Paypal.

(If you are ready now and they need 4 paychecks to save up the rent and deposit, what's the point in showing it?)

Their security deposit would also help cover past due rent or future due rent.

Cons - Often a large deposit is needed, no guarantees on deals though - still have to do the work2.

Thanks for he replys£50k purchase price Inc fees£20k deposit and costsWe will borrow £30kPossibly £1200 per month on rentwe have no cashwe will pay it of over 3/4 yearsthen refinance for 80% LTV£48krepay that over 10 years.we will return the investors initial investment plus they will get a percentage of the rental income.Is there a percentage they should receive on top of there investment what percentage of the rental income should they get.

If your comment regarding "5 times rent" was referring to the security deposit, CA limits you to 2 months' rent for an unfurnished property. 

You should also verify if there's a security deposit that needs to be transferred to you as well.As far as notices go, there should be a signed PMA (property management agreement) that may disclose how to go about and how soon you need to send notice.

Again, not crazy about wholesalers since I think the principal is screwed, but you need something from your buyer to keep him in the game.If not a fee, then some kind of escrow deposit would help do that.Otherwise, he walks and if you have no intention of closing then you may (if you even deposited anything) lose your non-refundable money.READ THE PSA YOU SIGNED!!!!

In addition they’ve brought in 2 dogs without my approval (although they say they will be paying the deposit I require).