This is where it starts to get sticky, he only owns half the house there is another women who he use to be friends with that bought the house with him.

I'm buying (starting out) in neighborhoods that are already fenced, and frankly I don't care if the fence is off a few inches.  

OTOH, if one of you puts up 100% of the cash and the other one manages the property (screens tenants, deals with issues, etc.) then I'd say the one doing the management should get the PM's fees (typically 10% of collected rent plus half a months rent to fill a vacancy) and the other should get all the cash flow.Partnerships are fraught with problems.

One partially remodeled kitchen and partially remodeled bathroom.)Entire back half of roof was replaced in 2013Interior of house is in good condition.Possible owner financing scenario:Down payment $10,000Amount financed $29,900Monthly payment -- $284.7530 year amortization10 year balloon payment No prepayment penaltyProforma Income and expense statement:Gross rent $9,720 ($460 per month + $350/mo.)Less vacancy 5% -486Net potential rent 9,234Expenses:Taxes 2012 $1,068 (taxes have been appealed.

I own 3 SFR, (technically 4 1/2), I just haven't transferred one over to my son yet and the other is half owned by a partner who is living in it.

Then whatevers left over I split it half to rent half to run around and have fun on.

I'm thinking half of the $1.4M should be okay because of the amount of estimated repairs, which is around $700k.

I have read that she could ask to have the lock lifted for a specified time for me to check the credit, but she believes that it will be inaccurate and is offering to show me a credit report that she had completed a year and a half ago instead.

.- Offered to accept half of Decembers payment along with a late fee pending from last month (her first late payment) as well as a late free for December.- The other half of the rent would be payed in two additional payments, one in January, the last one in February.I am hopeful that she understand the flexibility we have applied to help her out and that she do her part as agreed.Thank you for all your great comments and suggestions.

Haha Account Closed Wow I must be half asleep, that went right over my head!