. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week)  -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

Doing so ensures compliance with your lease agreement and avoids potential legal disputes down the line.In conclusion, adding your property manager to your insurance policy as an additional insured is a crucial step in protecting yourself and your property manager.

I ultimately invested $65 cash, $5k in legal fees, and $9.7k in operational expenses while owning the home, and walked away with $17.3k after a judgement.What made you interested in investing in this type of deal?

When it comes to taxes, the key to successful planning is documentation; retain all records of spending, as all those costs can be deducted.”

Buying through an agent may provide more transparency, while sheriff sales and auctions can offer deals but often come with risks, like limited property inspection or legal complications.

Considering it's from a reputable auction site, do I have decent legal standing if they misrepresent it?

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Yes it's definitely legal, and I've sold a few this way.

The AP has to be open, notorious and hostile...those terms have a legal meaning and essentially it is that you as the owner have been fully deprived of your right to the property.Absent those items above, it sounds like at best they have another legal right which is a "prescriptive easement".

As long as they pull the proper permits and are licensed contractors (if required in your state), they can legally work on the property.