If you have a duplex and one goes vacant you at least have the other side covering mortgage and taxes.

You have health care covered for little costs.

A lot of this information can be found relatively easy, and your real estate agent (if you selected on correctly.. you want one who owns their own rental properties) can be a great help.I do cover a lot of topics on my blog, www.intendhomes.com, but there is a lot of good resources here as well.

HOWEVER, they have still not found someone to sublease and if they don't have someone by Feb. 1 I am afraid they aren't going to be able to cover the full rent of $1200 and they have already threatened to just move out too if they can't find someone and can't afford the $1200.I have never run into this issue before and it seems completely messed up to me that they think they can just walk away from a legally biding agreement that we all signed as a 12 month lease for $1200 per month.

Dig in deeper and confirm misc expenses, add in for management and allow for future cap ex to cover your rear.

Even if the place is new, you must factor in repairs in case a renter destroys the place or something else happens that maybe insurance can't cover.

Compare the legal descriptions in each.If he owned the other lot, and if it was covered in the mortgage, but not in the foreclosure docs, then whoever did the foreclosure will go back and correct their mistake.If it was not included in the mortgage, then the mortgagee cannot foreclose it and you can try to make a deal with the previous owner or back out of the deal.Gursel

They might agree to stop the action if you are willing to cover all of their costs.

Of course, he's not crazy about paying rent either so I don't care, just covering my bases.

You'll be partially covered if the tenant does something that destroys your property.As others have said, liability insurance is essential.