If you think you can, I'd still raise the rent by as much as I could (while still retaining them).

All that work helps me retain what I need to know to do this effectively (to my own standards, that is!) 

The property will be rented to Applicant on a ONE YEAR LEASE basis at a rent of $995.00 per month, if Applicant signs Owner's written One Year Lease and pays Owner the first month's rent ($995.00) on or before MARCH 20, 2011, in which event the holding deposit will be applied to the Security Deposit.Owner and Applicant agree that if Applicant fails to sign the Lease Agreement and pay the first month’s rent ($995.00) on or before MARCH 20, 2011, Owner will retain this holding deposit to compensate Owner for the inconvenience.A PRORATED AMOUNT OF $385.20 FOR MARCH 20-31, 2011 WILL BE DUE APRIL 1, 2011 AND STAND AS APRIL’S RENT.

Often, you can agree to an interest bearing account with interest retained by the holder for maintenance of the account and bookkeeping expenses, the account may not be required to be an escrow account by the depository but will be on your books.

I retain the records because I'm managing the property.

Purchase price: $145,000 Single family home I purchased with a VA loan and retained and rented out after moving How did you finance this deal?

You will receive an Addict award along with a habit; as well as learning and retaining useful real estate information without struggling.We are considered to be the average of the 5 people we spend the most time with so connect with REIA meetings, accountability partners, and mastermind groups to engage with individuals interested in real estate investing.At the bottom of this page is a list with help in it.

You will receive an Addict award along with a habit; as well as learning and retaining useful real estate information without struggling.We are considered to be the average of the 5 people we spend the most time with so connect with REIA meetings, accountability partners, and mastermind groups to engage with individuals interested in real estate investing.At the bottom of this page is a list with help in it.

You will receive an Addict award along with a habit; as well as learning and retaining useful real estate information without struggling.At the bottom of this page is a list with help in it.

Are you generally forced to pay the back taxes to retain control of the property?