I am a master plumber in my day job,I would get rid of the guy immediately if you had him sign the proper contracts when he started working,if not you need to work things out with him and get the job done,most likely he has ran out of money and will start asking you for money to finish Do not pay this guy any money to finish,if he can't afford to finish most likely he will tuck his tale and disappearMost all contractors are living from one job to the next,hire only licensed and insured guys The idea of saving money flipping houses will only cost you more money in the endGood luck @Dele Ola

@Stephen E.  

I have heard if you set it up properly you can get in properties with little to no money down. 

Remember that we now meet in the Community Room at the ISU Credit Union located at 2255 E.

Originally posted by @Bob E.

You need to take a proper application and do a background check.

I am not sure of your DTI ratio's, but you will be required to count the full payment towards your DTI until you have 2 years of landlording experience (reporting on schedule E of tax returns), which could make it hard to continue the process right away without flipping a couple or being patient and getting to the 2 year mark!

Your home office expenses will be reported on Schedule E. 

So what is the proper way to transistion from one tenant to another in a years lease?

. * And not doing the proper research about the market you are buying in.