I'd continue to read the amazing content here on BP but also recommend to attend local REIA's to meet investors; they typically waive the entrance fee your first time around.

On further looking into the details, I found out that he has also not paid any association fees since last few months and now this months water bill is due as well.What should I do at this time to take control this situation to get worse and reduce my loss ?

Sale $450,000 Real Estate Agent Fees $27,000 Principal $317,000 Closing $2,500 Cash Out $103,500 Cap Gains ???

Fees are very different.

Do I respond to the lawyer with anything other than she will be charged a late fee?

However, your flip needs to have enough earning potential to cover the HML's high points (fee) they charge at closing and gets rolled into the loan (3-4% of total loaned amount). 3) I did my last flip with putting a conventional 30 yr fixed and paid the down payment and reno costs in cash/LOC.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I include lease renewal as part of my overall management fee.

Does anyone have or know of how to get a general template of a tenant finders' fee agreement?

I wouldn't advertise "option fee" or what the purchase price is.The only thing that you should advertise is the monthly.