The PA law reads, ""Escrow Funds Limited:(a) No landlord may require a sum in excess of two months' rent to be deposited in escrow for the payment of damages to the leasehold premises and/or default in rent thereof during the first year of any lease.

They live there for the full year however, they have multiple other families/persons living there that you were never aware of that would in no way ever pass your screening test and put a horrible amount of excessive wear and tear on your property and you are none the wiser and because you are sitting on a fat pile of cash, you are happy, while your house is falling apart under your nose.

I understand from other discussions here on BP, that the IRS may have very stringent requirements for REI's claiming Professional Status to enable RE losses in excess of $25,000 per year against non passive income.One suggestion, in addition to detailed records of the over 750 hours of RE activity, is the "Election" of combining of all your RE properties into a single entity.I have not found a way to do this in Turbo Tax (no chuckles please).Does anyone have experience with this and discuss the pros and cons of such an "election."

Apparently the person claiming to be a real estate agent wasn't.The other one not yet mentioned is the check used for payment that is drafted for an amount in excess of the payment due, with the payer requesting to be given the difference in cash.

Take on a cash Partner that buys in with $145k (50% of ARV = $290k) and give them 50% of the deal (or whatever you can negotiate).Pay off the 2nd mortgage.Do the rehab....and use the excess cash from the buyin as needed to cover monthly costs while rehab is being doneRefi to get your monthly payment down with a lower interest rate.Turn your house into an AirBnB. 

Re-evaluate your asset mix at a set interval (perhaps twice a year) and invest excess cash to "rebalance" to your target mix.

ya lose and probably won't collect with out small claim court follow up.. and not likely for that to happen very easily.chances of tenant actually paying you for excess of damages that exceed deposit would be my guess of less that 1 out of 100.... and trying to track them down once they are gone ... good luck

I work with turnkeys excessively and there's lots of cash flow to be had on them, even with where we are in the market.

Account Closed  while I understand your sentiment you also live and work in a market with excess housing.. houses that cost less than cars etc etc. .plus of course you have high end homes.But even dogs in our neck of the woods are 250 to 400k same thing you would pay 10 to 20k for in areas of Baltimore.. what works there does not work on the west coast.. while some of what you mentioned is certainly tried and true RE one oh one.. just a little different setting here Is all.Mary, if your serious about this you NEED your license just the savings when you buy and on the list side will create huge amounts of profit when your working in our markets.. plus you get instant access to MLS and you don't have to rely on anyone.. for the life of me I can't understand who anyone would not think its a benefit to be licensed in our market if your intent is to buy and resell homes that are in the 500 to 1 mil plus..

A few interesting revenue sources I've found:-Selling tideland rights - locally we have great shellfish, and you can sell *just* the tideland right to large seafood companies, while keeping the use of the property-Selling timber - I found out a local investor just buys vacant lots, logs them, then resells, with all the money in the timber-Selling energy - in some cities, if you have solar panels, you can sell excess energy created back to the cityWhat other creative alternates have you found for getting more money from a property?