It wouldn’t be too difficult to draft up but figured I’d ask if anyone already had something similar they use as I already have a tenant I need to get something over to.  

@Ryan ChatmanInteresting im also in the lehigh valley, where i work at i see mostly window units if there is no option for central AC what kinda cost for repairs do you see over time and how often do repairs even come up?

Situation: Years ago the owner of a property worth $1M and an elderly property owner placed a REVERSE MORTGAGE on their property which when funded allowed her to stay in her home and receive distributions from the lender up to a MAXIMUM sum of $700K. 

I’m aware California is not the best market, with the restrictions and potential new tax coming up, etc, but we have personal reasons to invest there.With that said, we visited a lot of houses in the San Diego area and saw 2 that seem like a potential fit for us: one is a smaller 3 bedroom but a mile from the beach and the other is a 15-17min drive to the beach, but bigger with 4 bedroom and a little cheaper, which would allow us some cushion to invest on a hot tub or potential pool.

Once I use the knowledge in a real life experience I know it’ll be there in my head to call on when I need it, and if I’m unsure about something I hit up google, biggerpockets, and/or someone in my network to get what I, or anyone else on my team needs. 

I've got some properties up in the DFW area.

They seem to ask for the right information to set up the note in their system.

I’m married with 4 kids, I make about $175k a year, we have about $250k of total debt, about $500k to $600k in equity in our current property, around $15k in liquid cash and close to $200k in retirement saving.What does action look like for me and my family?

Saves me from having to transfer any amounts that add up into a separate interest earning account. 

How much will end up coming out of your pocket will ultimately depend on the coverages and exclusions you have.Good luck.