MaryAnn HoughtonSorry for the digression on Life Estate.There are a couple of legal items that might affect your lifetime lease.I'm not 100% on this and this goes far back into the reaches of my memory, but I seem to recall that Pennsylvania law limited residential leases to a maximum of 3 years.

As mentioned above, I've seen many discussions for item #2 that depreciation is based on when the property is ready to be rented.

He's always been a great tenant and never had any major requests and I've been pretty quick to get everything fixed that has come up.There are a few items though that he's asked about that I'm not sure if I'm responsible for or not.  

Also, "normal wear and tear" is based on depreciation over the life of the item. 

You only need one of two items,  Cash Flow or Equity. 

I would write a letter explaining the issues that need fixed and give him a deadline to fix requested items.

We require 4 items when applying to rent.1. 

Some of my ideas for the very small group includes:*role playing via conference call*posting seller calls in order to get feedback from the group on ways to improve*contest to see who can get the most NO’s*contest for the most follow-up calls*posting seller objections to get feedback from the group*monthly action items/to-do’s

If we have to replace both big ticket items we prob won't even profit on the year.

It is also a good place to buy notes and deeds of trust.As we are rehabbing a house, we will also post cabinets, windows etc. as free items.