This covers Legal, Accounting, Pest Management, etc.HOA (find out)As you can see these could easily add up to 50%.  

travel, legal fees, license, accounting fees, office supplies...this could included in your property management expense...just adding more line items. 

Therefore it is strongly encouraged to make sure you do the title search and, as best as you legally can, inspect the property so that you can make some assumptions about its condition before placing your bid. 

Should I consider legal action?

Should I consider legal action?

I plan on purchasing mf in the downtowns of the cities surrounding Houston, mainly those with a more “Americana” type of feel( white picket fences, 4th of July block parties, neighbors worship together, founding families are still around and they let you know it, high walkability score, families are out on the street with neighbors, doors are unlocked.....)It is tough to comp certain property because they might be the only type (or one of the only two) AND some of these towns do not allow any more MF to go up, so the MF owners set the market.

Hey everyone,I closed on a new property on February, the tenant sent March rent by mistake to the previous owner, who refused to send it to me, saying that this covers  the tenant's past owed rent.I have an email from the tenant stating that this amount was intended to pay March rent, so I think that the owner has no right to apply it to the previous rent owed, since it's not his money.Do you think I have grounds for taking a legal action based on the tenant email?

Regarding your question: The court in the past have looked at these intents:  The agreement between the parties and their conduct in executing its terms; The contributions, if any, that each party makes to the venture;Control over income and capital and the right of each party to make withdrawals;Whether the parties are co-proprietors who share in net profits and have an obligation to share losses;Whether business was conducted in the joint names of the parties;Whether the parties held themselves out as joint venturers; andWhether separate books of account were maintained for the venture.In more complicated cases, the court has ruled what you are expecting, but there were some significant differences. 

Make sure the garage apartment is legal.

You are kind of late to the party.