They did as Glenn said want to see documentation and lease agreements to setup the new numbers.I know a local investor that builds apartment complexes and he builds the complex and runs it for 1 year then sells it.

In some states, it is against the law to collect more than a couple month's rent, so you have to check into that.I automatically turn down any applicant who wants to pay a year in advance.For an existing tenant who has been a good tenant, I would take the money, put it into escrow and pay myself month by month as it came due.Tentant would still be on a month to month agreement and if I wanted him out, I'd give 30 day notice and refund the balance of the rent.An exception: If I rented to college students, they sometimes pay the entire semester's rent out of their grant money.

Also he mentioned that he has condo'd the project and is entering into lease/purchase agreements in the amount of $118k per unit (2 plus 1 units).

Let's say that you could get a guaranteed $1,000 a month rent on a property (now remember this question is totally hypothetical) and you were magically guaranteed the best renters, no vacancies, no repairs needed, minimum maintenance--in other words your dream come true rental and obviously something you would never plan on happening--ever.

Anyone know where to get good forms for these types of transactions? Or anyone wanna share theirs? My properties are not moving and now i need to get some of them going.

Thanks in advance

Hard money lenders seem to be the way to go but everything were finding on the internet either doesn't service this area, the minimum amount loaned is 100,000 which is pretty high for rehabs in our particular market or is just flat out scams.

C) Use a good contract and make sure the option and lease agreements are separate Hopefully that helps, and I wish you the best of luck.

I try and get closer to $50,000 most of the time, but $30,000 is the absolute minimum that my time is worth.

I am a 6'3, 260 lb martial arts practitioner and I never go into vacant property alone and I always have a 3' maglight and a "tactical" grade folding knife with me at minimum.

Then I ask them what there plans are, and how quickly they think they will be able to move out.Most of the time they will tell me a timeframe that is acceptable to me, in which case I ask them to sign an 'Agreement to Vacate' document.