I found this form online that seems to be sufficient.http://www.cslb.ca.gov/Resources/MechanicsLien/ConditionalWaiverAndReleaseOnFinalPayment.pdfAlso, what do I need for taxes?

I'm considering purchasing accounting software as opposed to using spreadsheets.

Account Closed can you send me a few references?

We put about $2500 and some sweat equity into the property before renting it out (some flooring, new dishwasher, new water heater, painting, etc).income: $1295expenses: $108 vacancy (guess), $283 HOA fee, $161 property tax, $14 insurance, $130 repairs / updates (guess), $480 mortgagecashflow = $119And that doesn't take management into account, which so far we'll try to do ourselves (from NH -- I know that's iffy, but we did find a high quality tenant so we're hoping that not too much will happen).

Account Closed awesome thank you! 

Dunno...Unless there's some "magic" way to find such properties other than by checking the public records available on line (go down to the courthouse or recorder's office?)

I was hoping to find something very clear online about what it actually means more specifically, but am having no luck.So normally, under that standard languaging, if consent is requested to assign a commercial lease, does "performing a standard screen/background check on the new would-be tenant, as if it were a completely new application for an unoccupied space" count as something I can legitimately do?

I was wondering if there is a way that the company that manages the LLC is the one with the bank account and not the LLC that owns the house?  

So I'd say the seller(s) should consult with an attorney or accountant, but it's possible they may owe much less than 15% or nothing.Also as Account Closed said, seller financing is also often attractive to people who are concerned about taking a big tax hit in one year - instead it's "pay small amounts as you go, over time as you receive the money" and is great for a number of reasons (no or a favorable interest rate for you, no bank BS, build long-term relationships and credibility with future sellers, possibility to discount in future with a payoff offer, etc.).It's worth having in your mental toolbox even if you don't use it on this deal.

After buying - by chance - a 'high cash-flow' apartment as first property in Malta, my husband and I realised that Real Estate Investing could help us reach our goals: financial, geographical & time freedom.We are already working online, allowing us to travel frequently for long periods of time.