Having a tenant in place with a signed lease, when you buy an investment property is ideal, because it gives you immediate cash flow.

Seller countered with 165K, I counter-counter with 155k then we settled on 157.Contract signed and due diligence is in process including thorough home inspection.Rick

Anyways, for this deal the owner reviewed the paperwork with her lawyer brother and decided to bring their own lease document which says that I can bring in tenant buyer if I already have one but otherwise she will not sign the lease option deal and allow me search for a tenant buyer.

The option price can be signed as a note and payments made to it.

I prefer to put the time into screening and talking with tenants before a lease is signed, than to try to deal with the bad tenants.

However, you will be required to have an audited statement, a CPA like Charles, to sign off on the books.

Most want to sign another lease with deposit.

You could drop your manager fee to 1.5% or less at your own discretion, again it is all about what the investor is willing to sign up for.

Avoid new american funding, they pulled 2 financings on me on the day of document signing.

We signed a lease agreement to rent a house in South Carolina.