We have not written a lease before (our first rental) and are having a hard time getting our brains wrapped around how to construct a lease that would give them lifetime rights to live in the house.

Vacancy rates are higher in my town than other neighboring towns so it makes my strategy choice even more difficult I am just getting back into real estate so I am hesitant to go against the grain but my rational brain tells me it's the smart move.  

If either party fails to pay as demanded or to indemnify the other of any loss, the party owed shall then after 30 days. have the right to secure such indebtedness by a lien upon the owned property subject hereof until such is fully paid.Then you wind it up, you're granting to run with title, to grantees, sureties, guarantors, heirs and assigns,  with acknowledgements, execute it, file it, get a recorded copy and turn it in to the lender.I'm not an attorney, this is off my head, as to the points lenders want to see, before you start in, ask the lender if there are any other requirements, they may want granting authority by assignments to be specific to the deed of trust.Actually, now that you get an idea of what brain damage might be involve, why not get with the neighbor, explain he is in the same boat if he or his heirs ever want to sell or refinance his home, split the costs and go see an attorney who can write this type of stuff up properly.

@Ned Carey - and I did it with three fourths of my brain occupied elsewhere with other conversations and pretty big projects right now...hahahaIn other words, Ben Leybovich knows how to git 'r done...!!!!!!

I've been one for about a year now and have always wanted to pick other private lenders' brains as to how they've raised capital to lend out to borrowers. 

Our business is designed to collect money on the first of every month and usually when landlords get greedy at the sight of a wad of cash their brains and common scenes go out the window.At the end of the year I make my full income without ever having to reduce my rent.

Having multiple projects going on with multiple sources of funds(private,hard and bank) it would be nice to have a source that tracks all this and puts it on a timeline or something other than my brain. :-)

This is 100% speculation from my brain of course, but this is an interesting topic nonetheless.

Here is your opportunity to show your brains and creative business strategies.  

My flipping/wholesaling/renting business has grown rapidly almost to the point of my brain spinning in circles, not sure what the best thing is to do with my time.Anyone out there pay an individual like this and can speak to their effect?