We are also working on new arrangements with a startup car-share; for electronic parking passes; discounts at neighbourhood restaurants; and a reduced rental rate on self-storage during the summer months for our student tenants.As @John K alluded with his fridge magnets, we provide all tenants with the following on move-in:a binder containing information on their home: the house rules, manuals for appliances, call lists for service providers, transit schedule, maps showing local amenities, coupons to local businesses;a cleaning caddy with a started supply of cleaning products, a toilet brush in each washroom, and a toilet plunger;an emergency call list velcro'd on the inside of a kitchen cupboard door.

Even I own property out of state and they are by far the worst deals I've ever done because they just linger in value like stale bread lost behind some container at the back of the fridge.

Usually during the 11th year principal and interest is required to be paid  so the payment may be much higher since it contains principal in each payment along with the compounded risk of a variable rate based on prime that could go up at any moment.A lot of HELOC's  are 30 year loans, 40 year loans, or some are even 25 year loans so make sure to check out the term because it may impact how much amortization or principal will be required to be paid when it switches to principal & interest in years 11+ compounded with the interest rate risk that can go up to 18% in most cases.Personally if I knew I was going to have the debt from my primary outstanding for a long period of time I would use a fixed loan with a long term so that you wont have that risk of payment increases if you adamantly intend to purchase a rental.

I hope that this post is taken as the friendly information intended and not as a sermon of some kind.DISCLAIMER: While all the information contained below is factually correct, I do not represent any readers of this post concerning their personal income tax situations.

Tenants agreed to return trash carts to the designated storage area by 7:00 a.m. the day after any scheduled trash pick up....In consideration of the mutual covena nts and agreements contained here in, Tenant agrees to lease....for an amount of $XXX, payable....

It contains a "due on sale" clause that says it must be paid off when ownership in the property is transfered.That said, people to "subject to" deals all the time where a property is sold subject to the existing loan.

That contains my cell phone number (my business number).

You'll find it contained in the seller financing issues which are about 2/3s of the way through the Act.

Another way is to use a set ltv to each property as if the note contained several notes, an assigned value to each property, best for you and simple.

Germain Federal Depositary Institutions Act (12 U.S.C. 1701-j), specifically Section d8 that provides an exemption for real property loans secured by a lien on residential real property containing less than five dwelling units : "a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property" Here is more on this subject as it relates to Texas http://www.lonestarlandlaw.com/Due-on-Sale.html.