I've always thought that in a lease-to-buy, the renter/lessee is a regular renter who paid extra for a right to buy by a certain time.

How many extra days on the market does it take to wipe out any possible savings from a discounted listing?

It's an extra few bucks in my pocket for appliances I got for free (I get mostly all my appliances for free...being in the right place at the right time helps).9 times out of 10 when the tenants move out, they leave behind the washer and dryer that THEY OWN.

No one has been able to explain who gets this "extra" rent money but they both say it is necessary since no one can rent a place like this for $500/mo.

Some extra two cents;txboy, I drive neighborhoods that interest me all the time, at all hours of the day.

It is 2 bed/1.5 bath with extra room and one 2/1 with extra "room".

It is 2 bed/1.5 bath with extra room and one 2/1 with extra "room".

Generally speaking, one month's rent for the entire building is good enough reserves to pay for maintenance issues that may arise.If you want to be extra safe (i.e. for tenants that don't pay rent, or for vacancies that you cannot immediately fill) then try to have 2 months' worth off rent saved up in your account.I would also advise that you set up a company to manage your business (most go with LLC's).

As long as the yard looks nice (trimmed) and clean there is no need to spend extra money on these type of things when you are going to sell.If the house is old and is wood - adding siding can make it look tremendously better and raise the value significantly.Do you have any ideas that you are concerned about?

If the investor has good credit, MBNA and some simular banks will give unsecured lines of credit up to 50 or 80 thousand.The trick is to find homes with enough equity to not only get your initial investment back, but to make 5 to 10 grand extra on each deal, and working with a mortgage person that specializes in investment property financing.AJ [email protected]