A common rule of thumb is that all expenses, including taxes, insurance, utilities (at least when its vacant) vacancy, advertising, tenant screening, maintenance, property management, tenant damage, legal fees, etc., all add up to about 50% of the rent.

I doubt that's restricted to MO.

Does any one know if it is legal to be a Property Locator?

Be careful in spending a lot of money or time in going after them legally because I guarantee they have nothing.

Have an attorney draft a legally binding contract for you to represent to your client, but I'm not clear on the terms anyway.Also it sounds like you want someone to pay you 20k to make their mortgage payments for them for 5 months so they can sell?

I have no idea if this is even legal but in theory the house could be worth that much in a year.

I have never needed either yet and would frankly prefer to run like hell than ever get into a fight in someone else's territory (and not just for legal concerns) but the reality of the world is that there are bad people out there who are not governed by reason and must therefore be governed by other means.

Also you might want to consult with someone; I was advised by a real estate attorny in my area, not owner finance but instead lease to own which is basically the same thing but for legal issues there would be no foreclosure process.

In Md a PO box wil not suffice as a legal address of an LLC.

See my post in "Tax, Legal Issues, and Contracts"If you're suggesting that I contact the lender and offer to send them a letter stating that I personally guarantee the loan, I don't think that's gonna fly.