I had, to date, not invested personally in something that large; however, I knew that this property was going to generate passive income from day one, and that our equity stance would have a lot of room to grow as the area, inevitably, improves.

Here's how it works, regardless if it's on market, off market or off Broadway.1 - When a Purchase AGreement has been signed off on by both parties, the PA will say how much of a DP you are putting up, and how much financing you need.2 - Lender agrees to provide (if approved) the funding needed, minus your DP.3 - Closing date is set, usually at the title company used by the lender.4 - You bring your DP to the closing, the lender provides the paperwork for the loan.5 - You sign, among other things, the mortgage agreement, and your DP check and the banks funds are delivered to the seller.6 - You get the property.

There is language about mtm after the lease has expired with a 30 day notice to vacate.

Should I wait till the tenant is up to date on rent or removed from the property?

Purchase price: $230,000 Cash invested: $2,000 Bought a property that was out of date with some issues.

Does that mean they can continue not paying for the next eight months till we get a court date?

My tentative closing date is January 15, and the tenants would not be vacating until March (assuming they are given their 90-day notice now).

We will still show your pending property & take backup applications until MoveIn occurs.Lease Signings include signing of our annually attorney reviewed, 27+ page lease, completed MoveIn Checklist & Video – all published to your online portal.Lease Terms are set to avoid end-dates from October to February whenever possible.

It has an expiration date on it.Unfortunately people "borrow" other people's license to do plumbing or electrical or even GCs.

The nation is shaking off the effects of the pandemic, bracing itself for the surge in forbearance exits, and the foreclosure moratoria began to expire.