But before they get it rented again, the copper thieves get there and rip and strip all plumbing, all wiring, destroy the AC condenser unit and all in all cause $10,000 in damage, which the owner needs to pay to get the house re rented and they often pay someone to put the house back together again to go into a quick placement of a new tenant and get back into scenario #1 or #2 again.Along about the time the other $15,000 in reserves run out, they decide they have to sell, but the house that they paid $15,000 for has all the damage to if from the first or second break in and is no only worth about $6,000 . . . so as one of the first reply's said . . .as a new investor going into an out of state market with $15,000 to buy a house  . . . at least in Kansas City . . . save yourself the heartache and head ache and set your money on fire.Or save it and do something else . . . . 

By the way, I don't know of any conventional lender that can close in 30 days today, even with the most cooperative seller.Did you use the standard CAR multi-res purchase offer and joint escrow instructions? 

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He calls me this Friday 7:45 am to come fix the AC; he stated that he was sick and it was getting hot etc., did I mention that we were going through the storm and long weekend.  

Pay the mortgage directly via auto ACH in the method of payment portion of your agreement.

My thought process being, God forbid something happens to me they can avoid probate since were considered joint tenants.

Hello Everyone,I am about to enter a joint venture with a partner on a property.

If you have two signatories to the lease, they are jointly and severally responsible for the obligations of the lease.  

What we do is we always purchase with an LLC, and then sign a Joint Venture agreement under that LLC.

Doesn't your lease hold both parties responsible, jointly and severally?