Anyways this guy has been in real estate for a few years and buys alot of houses so Im sure it has been checked.I would recommend you borrow a simple contract from another investor in your area...that buys alot of houses.

What's stopping them from trashing the place before moving out?

I've never stopped looking for the next flip, but man this is a very scary place to own a home at the moment.

Another is to borrow against the existing units to generate a downpayment for the apartment.

The recent Program announced in Washington is more "smoke and mirrors" than actual relief for the sub-prime borrower.

All things are relative with regards to any lease that is the so called "net" format vs those that are "gross" or "modified gross".The term net lease has been chopped up over the years to include "net - N", "double net - NN", or "triple net - NNN".N - generally refers to the actual property operational maintenance costs.NN - generally refers to the property maintenance and limited other costs, i.e. adding in insurance or RE taxes or some other limited set of items.NNN - generally refers to all associated property operational costs.For clarification a "net lease" means that the tenant is fully responsible for some or all of the property's operational items; On the other end of the spectrum is the "gross lease" which means that the owner is fully responsible for the operational items; "a modified gross lease" is a combination of the two and usually includes an expense stop for the tenant.Expense stop means the owner is responsible for all costs up to that point, i.e $3.75 per sf per year, and the tenant is responsible for the pro rata difference over that amount.

The new North Carolina law, which goes into effect January 1st, essentially ends stated-income loan applications for state-regulated loans, applications where borrowers estimate their income and lenders usually don't check.

So, I stopped by the apt. one day and the third "tenant": is there.

I decided that I need to stop!

I can now stop trying to re-send it.