Hi BPers,I have come across a SFH in a good neighborhood which is presently leased to a senior care operator.What are the pros and cons of buying such a property.Thanks,Meena

You might want to study up on lease options and subject too purchases. 

The difference in your bank account balance between paying a property manager 11.67% (10% of gross rents plus 20% lease fee) and managing the property yourself when buying one 20% down rental property (in Northern Colorado) over 40 years is:If you invest the difference in the stock market and could get 8%, the difference becomes:If you're saving for a second purchase, it delays when you can buy that second property which further compounds the effect of property management fees on your overall net worth.And doing the full Nomad investing model, it is pretty significant differences.I am going to write a whole book about the impact on various investing scenarios.

I'm wondering if I should start with a 3 month lease so I don't encounter an off-season market every time the lease renews - or 15 month? 

Rhe IRS concluded that a taxpayer's involvement was sufficient to constitute a trade or business even though a management company was engaged as the leasing agent and handled day-to-day operations.

Can anyone here give me a good lease option contract that I can use in Virginia?  

So basically I'm asking has anyone out there found the fool proof way to getting these leases signed with ease? 

.#2 leasing it for people who are willing to do yearly lease (1.5 or 2 times regular rent) from you and use it for AirBnB rentals.

HOA has a ratio of owned vs leased. 

I could also consider putting an ad Fee Structure: Property Management Fee:7% of monthly rent collectedLeasing Fee:50% of one month's rent, which includes Free Eviction Protection, a 30-Day Rent Guarantee and a Quality Tenant GuaranteeRenewal Leasing Fee:2% of annual gross renewal rentMaintenance Fee:Billed at invoice cost plus 10% administrative mark-upProperty Setup Fee:NoneMarketing Fee:NoneProject Management Fee:10% of project costs above $5,000