Thanks for writing.

This should put in writing what the fees will be.What is your maximum LTC and LTV?

If the purchase is a cash purchase, typically the simply write "$10 and other valuable consideration" so the amount isn't disclosed on the deed.

When i was there previously, we used attorneys for leases, but since I left the in between property manager, was writing them herself with a template she found online to save money.

@Claire Zhang who did they write the offer through?  

All though, if you're a high earner it may be a good way to be completely hands-off, and you will at least get the benefits of the tax write off when they are negative cash flow.

But too really take the time and Write you really truly feel the love!

The reason I am writing this is to seek advice on what next steps I should take.

I require tenants to give a 30-day notice in writing, pay an early termination fee equal to a month's rent when they give notice, in that they allow me to market and show the home during those last 30 days. over 80% of departing tenants accept these terms and I end up making more money because of it.Negotiating a win-win is always the best option.

Great idea - One big problem is local government.In Portland, change of use is near impossible even in zonings that allow you to back fit residential.They write those codes and keep adding to them and really don't like people not following them no matter how good/useful an idea you have.