If the tenant doesn't pay this money, then you simply send it to a collection agency and they usually get the power to deduct it from the tenants bank account or future earnings.Now obviously a lot of landlords would not bother, as they know the tenant is never going to pay that money.

No need for a double closing you just sign over your contract to the new buyer and collect your fee and move on to the next one.

Also curious - someone posted a couple years back about a service they use for online rent collection that charges $3/payment.

(This is what I use in California) The concept is to keep the fact that the property has been transferred private.The sales transaction remains unrecorded i.e. the deed is not recorded or the contract of sale or the financing agreement.The transaction is maintained in the records of a settlement /escrow management companyEnough documentation is recorded to protect the seller and buyer in the chain of title without making the fact that the property was transferred public record Existing loans, taxes, insurance are paid by the buyer into a collection account, which in turn pays all the accounts required to service the propertyRecording a deed or contract is not required in most states to make a valid transferNot disclosing the new sale to the underlying lender is not illegal in most statesKeeping the transfer from the lender is not a crime or against the law.

(They also carry a sidearm to collect rent and make repairs)  There are others on BP that accept a 2-3% return but are banking on extensive appreciation (also known as rolling the dice). 

There are two mortgages on the house, by law he can not collect any insurance proceeds due to his convicted crime.

And Phila wants to collect estimated amounts on these too ...BIRT link:http://www.phila.gov/Revenue/businesses/taxes/Page...NPT link:http://www.phila.gov/Revenue/businesses/taxes/Page...

He would be using money collected in a 1031 exchange.

It's a collection of the best flipping info from the site.Oh - and don't forget to set up your Keyword Alerts!

I also want to preserve what little relationship there is in the interest of having a paying tenant.Can I collect this $148 from his security deposit when he moves out?