Greetings BP folks,My wife and I are negotiating a deal in our area for a home that has a tax lien from the city and county.We have been working with the seller for quite some time and were offered the opportunity to purchase the home at a great price, we also have agreed to pay off the tax lien in addition to the purchase price. 

The way I saw real estate at the time was, saving money, buying a multi family, live there with tenant who help pay for my house.

My sister is selling her house to me; however, we want to do a mortgage transfer since she currently has a 2.5% interest rate, but the bank will only pay what is owed on the current mortgage.

As to paying off mortgages,  most rarely pay as agreed over 30 years.

That would be a little higher than I would care to pay. 

Should I just contact my attorney if she does not pay rent on the 1st?

Not only covering the rental income in cases where the dwelling is uninhabitable but more so if the tenant defaults and stops paying rent and has to be evicted.

So, you end up paying money to file the lawsuit which gets added to what they owe.

By having friends on the ground already hosting there, you have access to their knowledge and you have a competitive advantage. 

Here's my situation:I own a duplex that is about 100 years old and my tenants pay for all of the utilities EXCEPT for city water (which comes out of my pocket each quarter).Both of these rental units could benefit from some plumbing updates throughout (e.g. - 1.28 gallon toilets, eco-friendly faucets, eco-friendly shower heads, etc.) as a way of helping this rental property consume significantly less water (enough to save me a few hundred bucks each year...