You need to send a 30-day termination notice (certified) to remind your tenant that the lease is up, otherwise the lease is automatically extended to month-to-month (according to the standard CAR rental agreement).

There are horror stories all over amazon from people who has their Nest brick due to forced firmware updates (yep, once you install it there's no way to not have it automatically update, so think about how often your iOS updates leave things working strangely for a few months), which can leave you with your heat/AC running full blast until someone physically goes to the property to shut off the breaker.

Marie Poe, my understanding is that 10% is not the automatic threshold assumed by many, but that the applicable federal rate and section 32 and 35 laws must be applied and the loan pass that test.

-Renewal: Said agreement shall automatically be renewed for annual periods thereafter, subject to the right of either party to terminate said agreement ninety (90) days prior to the term of this agreement.

The 2-3 year limit is not automatic however, it's a minimum.

Second, your tax basis in the property when your mother passes will automatically be stepped up to the fair market value ($450K at this moment).

-If someone does not pay the note, can you always automatically go into foreclosure mode and then essentially own the property in question?

Well when I enter the address it automatically reverts to the Canadian site.

I want everything to be automatic so I wouldn't want to have payments coming out of my main account if the funds were not cleared yet for my rent payments.

. - A conventional loan (also tax deductible) and try to take advantage of being able to cancel it with Automatic termination when my mortgage balance reaches 78% of the original value of the property (no appraisal) or Final termination when I reach the midpoint of my loan when it's interest-only product, have a balloon payment, or were given forbearance by my lender. - Or avoid mortgage insurance altogether while putting no money down by utilizing a combo loan.