Cody, I respect the fact you paid WAAAAAAAAAAAAAAAYYYYYY more for your education and I appreciate the fact that you take the time to occasionally read and respond to some of these observations but I personally was let down.

Hi Chris, here is what the inspector said:"At numerous places, the inspector observed cracks on the brick walls and mortar deterioration.Cracks are usually signs of some movement.

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

@Andrew Pappas It's weird to have the $175 retainer fee structured like that. 

You need to retain legal counsel in your state to get advice on this issue.

********Lease Purchase Advantages For Sellers Usually top sales price for the property.Large market of available buyers at all times.Better quality tenants because these are really tenant/buyers.Higher rent than usual for the market area.Non-refundable option consideration (down payment) which is the seller's to keep.All minor maintenance is delegated to the tenant/buyer.Seller remains on the deed -it's still his property until the option is exercised.Seller retains the tax shelter.Lease purchasing (rent-to-own) puts pre-qualified, reliable tenant/buyers in now-vacant properties.Stops the money hemorrhage of mortgage payments in the case of vacant properties or where a "tenant" may not be paying (it happens).No fees to pay (especially application fees, 6 to 7% Realtor commissions, closing costs, etc.).A competent accountant or tax attorney can file legitimate write-offs, deductions, exchanges and other mechanisms provided by law.

Carpet retains heat.  

Meaning, buy a stick built home and make enhancements and feature additions that can be undone or removed, and thereby retain an ability to refinance or sell the home to a financed buyer in the future. 

When we get our first property, I think I would be comfortable posting for rent ads, finding, screening, and placing tenants as well as collecting rent and managing non-emergency tenant issues, but would like a PM company in my back pocket to manage emergency calls, evictions, local code/ordinance compliance, yearly maintenance, etc. for a monthly "retainer" fee (5% of rent?) 

The following is not legal advice.Having read numerous horror stories here on BP about failed projects and lost money due to less-than-honorable contractors, I feel compelled to try to provide some guidance to those who are interested in avoiding some of the pitfalls.1.Either learn the contractor licensing laws and mechanics’ lien laws of the state in which your project is located, and how to protect yourself, or retain and be willing to pay an attorney who is knowledgeable about construction laws in that state.