I can’t give condos away and many investors are under water as they either re-financed, took out a reverse mortgage or had non/paying tenants carried over from the COVID moratorium.  

So I did not pay extra for it, but chose it anyway over other places.

Tenant shall pay the flat fee of $_______ as an Early Termination Fee, which shall becomeimmediately due upon a deceleration of Default.

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

That way you have it available but aren't paying on it right away. 

It looks good) I stumbled across someone locally who does it, but I'm sure you could find someone there if you or other out-of-town investors like the idea of paying a bit more for that level of security and obtain a remote monitoring source of the exterior of the properties.

@Aaron Bard- plenty of  lenders  offer  DCSR loans ...contact a  few  for  quotes ...also - dont  pay  any  lenders  at the beginning of the process 

both have 5yr pre pay penalty. 

If you are not planning on doing the management, and in today's world it doesn't pay very well for the time,  then you can look for the best market posable.