Hopefully we can find a middle ground, and to ensure I’m not putting myself at risk by letting her brother and his wife stay for 3 months provided they’ll pay the rent on the 12th and this IS going to be the only late pay that’s off so many days.Paul

YOur best advice on how to structure this is from your attorney, not from the opinions of others on an open forum, myself included.Good luck to you.By the way, grouping funds from a few individuals to create a larger purchasing power is a great startegy when used legally and properly, such as with an LLC and O agreement.

The safe and clean inspections are intended as a mechinism for you to routinely (90 to 120 days) to inspect to ensure there are no issues with the tenant or with things you need to fix.

Not an urban myth at all, although I agree it is quite a "cheesy" strategy to delay the inevitable.The fact is, many have done this and since borrowers originate their loans with one lender, then it is sold to another and another, paperwork is misplaced, not transfered properly or timely, etc and the documents are not organized and readily available.

Post the current P&L on the biz so we can properly analize the deal.Are you saying the land alone would be worth $800k or after improvements, it would be worth that?

You do have a good point about them being kept clean and properly cared for.

You make your money, your bird dogs who bring you good deals make you money, your realtors who bring you good deals make you money, your end buyers make you money, your accountant who prepares your taxes properly makes you money by nature of saving it, etc.... you get the point.

ive been on her a few days and itroduced myself wrong, and just realized this is the proper way.

When you put an offer in on the property she probably had you fill something out ensuring she would get paid for that transaction.

What is the proper procedure?