Unpaid rents prior to your purchase, if collected belong to the prior LL.If the tenant is getting basic services, heat, water, safety etc then you wait till the lease is up to start any renovating-or you do cash for keys or pay for their lodging while you are fixing the place.

It depends on your jurisdiction but landlords should be held responsible for all safety items in a rental.

Just arm yourself with information, do your due diligence, buy right and you will do fine.

More safety and local amenity focused more than anything, which I think great renters look for as well.

Hey all, So my situation is I am in a 5/1 Arm at 2.75%.

I understand the beauty of leverage now and will def try to balance between supplying my safety net and having enough cash to pursue the next deal.

As an example, In AK, those general commercial loan requirements are:Cap rate of 8% or higherDSCR of 1.25 or higher Two years Schedule C tax returns of property.Inspection with all health and life safety either repaired or escrowed for repairs to be completed within 6 months.20% down with seasoned funds (in your account for over 90 days).Credit score of 620-640 or above.Obviously there are other minor underwriting guidelines depending on the funder, but commercial loans can be great.

I jumped from safety, into the frying pain and straight into the fire! 

The banks didn't lose money and investors saw that and this time around are not going to be nearly so scared of letting investment properties go which again is going to create buying opportunities for you sitting in the safety of your free and clear home.  

Nick A.it's good to investigate private lending and how it works.I would start searching the following terms on BPProhibited transactions, disqualified persons, custodians,  prohibited transactions,  arms length transaction ,  accredited investor, etc