It spared me from letting the policy lapse.

I thought I was having a memory lapse.

Be sure to ask about it to the owner or seller if the insurance is current you can inherit the grandfather rights at the same cost if you dont let the insurance lapse.  

Or you can make great time-lapses on your own using a digital SLR camera, an SD card, and an intervalometer.

To manage all these projects I am using the time lapse videos to keep an eye on them.

I let the original agreement lapse after three renewals, due to initial difficulty in getting the finances together.

I have chosen to let my license lapse as the liability is greater than the current value to me.Mark

Typically that fee is not reduced if the 180 days lapse.    

If Tenant fails to procure the required insurance, allows such insurance to be cancelled or to lapse, or fails to timely provide the required certificates of insurance, the same shall be a Default of this LeaseThis is requiring the Tennant to have renters insurance, should you force all of your tenants to have renters insurance?

Is the CAP Rate for the complex 12.06% and brings the property $70k NOI, then we make following.VALUE = NOI x CAP ($844k = $70k x 12.06)Is the area involved with 8.5%, the calc would be ($595k = $70k x 8.5), so the value only $595k for the propertie (undervalued).Maybe I have a lapse now, but its important to correct this for my calculations in the US.