@Shawn BurnsYearly lease PROs: 'Seems' more stable HOA's/COA's may require themMakes lenders happy with a warm and fuzzySeem to 'lock' the uninformed Tenant in for the duration; however they certainly do not - the Tenant can break at anytime; the Landlord may not break at anytime If the lease is broken you can retain the SD - however only the $ related to the amount of time until you find a new Tenant may be retained in addition to of course repairs Yearly lease CONs: Can be broken at ANY time by the Tenant- your only realistic recourse is to keep the SDBinds the property owner much more than it does the TenantA bit harder to evict due to non-payment Creates a 'maturity' event which prompts the Tenant to 'shop' around before renewing their Lease with youMonthly lease PROs:Gives the Landlord & Tenant the most flexibility - important for Landlords that may want to Sell or move-in Put's the Tenant on 'notice' throughout the duration, in that you can choose not to renew next month for no reason at allCan be set up to 'auto-renew' until cancelled by either partyThere is no 'maturity' event; essentially set it and forget it - there is no event which prompts the Tenant to shop around for a better unit or rent rateGives Landlords and Buyers of investment property much more flexibility when it comes time to sell for both the Seller and BuyerA bit easier to evictMonthly lease CONs:Tenant may choose may move out at anytime - this is the same with yearly - but with monthly it is implied, front and centerIf proper move-out notice is given - typically 30 days - you do not get to retain any portion of SD for rent related toMay not be allowed as an initial lease by some HOAs/COAsThere will be many arguments for either but from my experience yearly leases 'bind' the Landlord much more than they do the Tenant.

It auto downloads bank and credit card transactions, divides expenses by reason and property, etc etc.

Don't rent to someone who will practice law, accounting, architecture, run a convenience store out of the house, an auto repair shop out of the backyard, or any other business2.

@Damian CallaghanMetro Detroit (my rental portfolio is here)Purchase: $80k-$130kRent: $1100-$1500ROI: 10-14%Cash flow: $250-$350/doorAppreciation: Double digit (for the past 10 years, can send data)Location: C+, B- (suburbs and certain markets)We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.

The guest had only one 3 star rating and it auto accepted her.

By accident, ended up in the Air National guard part time which turned into a full time gig.In 1998, sold the mutual funds and started investing in individual stocks. 

With a home, autos, rentals, etc, you will get a lot of attention from those agents.

If this happens you may NOT get keys at that time and will have to wait until the loan funds and the Closing Attorney receives the funds.What to check the day before closing16Call the closing agent to confirm the date and location of the closing17Request a preliminary or final closing statement if there is one18Review closing figures for any mistakes19Confirm insurance, deeds, trust deeds, and mortgage documents are correct20You should do a “Final Walk Through” of the property you are purchasing within 24 hours before closing to confirm the property is in the same condition that it was in when you agreed to purchase the property and that all inspection required repairs have been completed.After Closing21Check property insurance (check policy documents, billing and auto-pay22Confirm addition to Umbrella policy insurance23Check on Title Registration, Taxes, Insurance and Home Warranty - 30 days after closing24If leasing, then set up a "Landlord" account which defaults to you to avoid hooking up utilities fees between tenants

I'll assume that was a typo or auto correct meant for John.

I didn't even think about that, I just do it on auto pilot, but I always make 2 craigslist ads 24 hours apart.