If the bank won't allow "and/or assigns" you can put it somewhere else in the verbiage of the contract and see if it gets thru...or, you can simply make up a fee agreement with the other parties involved outside of the two principle parties (buyer and seller)...most important - get it in writing!

Any idea what's involved and how much this would cost?

We have equity in the house, but I've been told I'm not to involve our house in my REI plans.

However, I have read some 'experts' that say unless you practice with your semi on a regular basis you are better off with the simplicity of a wheel gun.AdrianG: after you spend some time reading the many useful posts all over this site, you will see that some of us rent to low-income tenants where we are actively involved in cash rent collections, delivering eviction notices, chasing drug dealers and other undesirables off property, doing repairs at odd hours, etc.

Your best bet is to review a self storage rental agreement, and work from that.

Are you betting on appreciation?

Apparently there are not a lot of houses that change hands (at least at arms length or not involving investors), as the area is pretty stable, so most of the comps in my original appraisals are just a little older than those dates.

If this lease-option "buyer" is a relative newbie (and I'm betting he is), then I would NOT do this deal.

Hi :D I live in San Diego, but I am back in my hometown of Memphis, Tennessee now involved in a partition suit I filed against my big Sister on 1/23/08, because we co-inherited our childhood house from our Mother who passed away in 12/2003.

Thnak you for the input Wally..I have another question for you all..My father is interested in getting involved in this me.