I've had some real professional tenants show up lately at my open houses,If you have alot of sweat equity in the property, you make want to consider a HELOC from a local bank such as Centier.

If you operate your business professionally and follow all the regulations being taken to court will teach your ex tenant a nasty lesson and cost them money.If you make a mistake and have to pay some money back it is still better than offering money you do not owe out of fear, always make them work for it.

@Christopher Winkler the setup can take place in a few days however i was reminded of RESPA Goodbye letters which must be sent to the borrower 15 days prior to the transfer of servicing, but this is still a far cry from the 30+ days you speak of.Texas Note Company, Note Serivicng Center, Del Toro loan servicing, FCI, Evergreen loan servicing... anyone of these companies should be able to complete the transfer of notes withing a few days of receiving the necessary paperwork.

I am a Real Estate Broker And I have the strength and resources to help my clients receive the highest degree of personal and professional service.

@Steve S.Have you received the report from the inspector and then gotten several quotes for the foundation repair?

Hello @Steven Gillmer, much of the comments you have received on this post speak about how prices in MF have risen in Boise and the difficulty of finding a property to pencil.  

I plan on attending, sounds like a great networking mix of professionals/ investors.

I agree with some of your concerns, but if you structure your lease term from August-June, you could mitigate the vacancy and still receive rent for 11/12 months, with one month to turnover the rental and complete any improvements that are needed.

I'm not a lawyer so this is not professional advice, only advice from my education.I don't think the 1003 application is overkill, the more documentation, the better in the event things go sour.In terms of...Terms, from what I've heard from Larry Harbolt who I attended an in-depth seminar on regarding owner financing...The terms are completely up to you.

When I receive a referral fee, the check would be made out to his brokerage, and he would cut me a check.