Are the tenants responsible for that also? 

Looking forward to your responses!

There is a better chance that the Texans QB Tom Savage makes the Pro Bowl than the loan gets called love your response

Thanks for the response.

Write a simple one page agreement stating that you are 50/50 responsible for repairs and mortgage payments.

PURCHASE COSTS: Purchase Price ($62,000.00) Inspection(s) $400.00 Appraisal(s) $450.00 Survey(s) $0.00 Lender Fees/Costs $0.00 Closing Costs ($5,200.00) Other $0.00 Total: -$66,350.00 REHAB COSTS: Labor (from page 2) ($13,900.00) Materials (from page 2) ($16,380.00) Total: -$30,280.00 HOLDING COSTS: Mortgage Payments $0.00 Property Taxes ($300.00) Insurance ($700.00) Utilities ($900.00) Lawn Care $0.00 Other $0.00 Total: -$1,900.00 SELLING COSTS Selling Price $130,000.00 Commission To Agents ($7,800.00) Buyer Home Warranty ($500.00) Buyer Termite Letter ($50.00) Buyer's Closing Costs $0.00 Seller's Closing Costs $0.00 Total: $121,650.00 PROFIT: $23,120.00 On to my questions:- Other than potentially needing to pay some of the end buyer's closing fees, am I missing anything else that should be accounted for?

They can simply refuse to take responsibility and you still can not collect easily.I would not accept this applicant but if you have zero other options and you wish to drop your screening standards never offer a risky tenant applicant a term lease.

Hi @Maria McCreless our company has been sending mailers for over 15 years and found it to be a great tool to locate motivated sellers. 5% is a good initial response average.

You will get a special warranty deed, that basically means the seller/bank/auction house is selling where is/as is, and you, the buyer are responsible for all liens with the property.

I know the winning bidder at a trustee foreclosure sale takes title subject to all senior liens, but is a HOA fine (not a lien) the responsibility of the new owner?