I've read about a few people that arrange for Skype walk-throughs of the properties and never even visit them in person.How do you get a feel for the neighborhood?  

All of those we put into LLCs, but it was as much for the contractual arrangement between members embedded in the LLC operating agreement, with liability protection as an added benefit.

Hi Dawn,It is the opinion of many here at BP that due to Dodd Frank and the Safe Act, rent credits constitute a "financing arrangement" and require a RMLO to underwrite the buyer.It is prudent not to include rent credits subtracted from either purchase price or down payment.What can be done is a rent credit to be used as a seller's concession toward closing costs.Landlord/Optionor agrees that upon exercise of the option, Landlord/Optionor shall contribute $_______________to be applied towards funds to close (Seller Concession) to the Tenant/Optionee if and only if the option is exercised.

Some ideas: 1) put mini fridge, desk, chair, wardrobe, bed in each room. 2) Buy all common stuff such as toiletries, kitchen utensils, cleaning stuff.Cleaning: Arrange cleaning service twice a month at landlord's expense, this not only keeps the house in great condition but also can be leveraged to inspect the house.Laws: City of Seattle allows upto 8 unrelated persons in a SFH, so does Redmond and Bothell.

I'm working on a deal now for a seller finance arrangement for a client that really doesn't pencil out after a relatively short lowered interest rate offered by the seller.

,●Showing the property to prospective tenants,●Writing and placing rental ads●Taking tenant applications●Running background checks and screening tenants●Preparing and negotiating leases●Cleaning the units after tenant move-out●Maintaining the grounds●Doing repairs yourself●Doing improvements yourself or arranging (and managing, but not “watching”) others to do them●Hiring and supervising a property manager ●Purchasing supplies and materials for use on the rentals●Inspecting the property●Communicating with tenants, and responding to their complaints●Collecting rents●Evicting tenants●Traveling to your rentals (as long as there is a business reason to do so)

Are there any verbal agreements or arrangements between the current Landlord and Tenant?

I would say anywhere from $500 to $1000 is reasonable for attorney's fees depending on: (1) the market; and (2) other stuff you are asking them to go along with forming an LLC (e.g. getting you an EIN, arranging for registered agents, asking them to help you give an "LLC 101," etc.).

I am happy to workout an arrangement that will be mutually beneficial.  

I have heard that some mortgage companies will allow you to make arrangements to pay half of the monthly total on the 1st and the other half on the 15th.