I think this situation will be a good indicator of what to expect from this tenant for the duration of the lease.

Hello All,I just renovated 1 unit in a house hack in Jersey City NJ and am ready for a tenant.The lease would begin on November 1st.I am told that it is not legal to do less than a 12 month lease in NJ.This means that...

You can, however, specify a guest duration (in my area, anyway) and state that all adults over 18 living there more than X amount of days every month must be approved and on lease.You can't say "no parties."

If you accept that much rent from a tenant and they cause issues, you may be stuck with keeping them for the full duration of the period they paid rent through.

Keep in mind, if you did the rehab and you believe in your product and stand by it, then you should have no concern with holding for a duration longer than expected.- Buyer is new to the area, and they want the house, but they could have been relocated to the area and want to make sure the place is a fit for their family.- Seller wants top dollar, and the end game is to sell, but the only buyer(s) willing to pay that top dollar are renters- Buyer wants to save up some more $$, increase their credit score, or a whole slew of other reasons.In my area, SFR in Class A areas are in super high demand.  

Either way, even if it's "not right" for daddy to get involved, you can bet he will continue to be a pain in the *** for the duration of the lease.

Hi @Julio Contreras,by "paying all your pmi upfront" do you mean you pay a year's worth of pmi or the entire pmi due for the duration of loan?

As mentioned the 100K you had invested for the duration cost you about 10K in lost income and your other carrying costs probably another 10K at least and probably more.

However, the type of repair, the extent of repair, and the duration of the repair will need to be taken into consideration.The tenants are entitled to a place that is "habitable" and to "peaceful enjoyment of the home".The landlord has certain obligations they must fulfill to protect the health and well being of the tenants during renovation and repair.There is a an excellent booklet put out by the EPA that landlords are required to provide to tenants when a significant amount our work is being done on an older building.

When purchasing a property that is occupied the lease transfers with the title, therefore you are required to honor the remaining duration of the lease.