For this part you do not need to have a deal in hand.When we were putting in offers, we would get a pre-approval letter that was tailored to that offer.Are you planning on house hacking?

Originally posted by @Paul OBryan: Is there wisdom in getting pre-qualified (but not yet credit checked)  "Pre qualified without a credit check" holds no value, except inasmuch that a bunch of stated income / stated credit prequal letters is probably cheaper than purchasing toilet paper if you want a money saving strategy for toiletries.Of the lenders you interviewed for the job that are local to the state where you wish to invest, hire the most competent/responsive/knowledgeable, and get a full doc preapproval that'll show real estate agents that you're a dead serious carpetbagger, and not yet another out of state tire kicker and time waster from California. 

That advice isn't just digital words - it's where I've landed after much headache, and it's very likely I've got quite a bit more to lose than you do at this point in your investing journey.Also, can we please stop talking about San Diego real estate and cash flow vs appreciation?  

@Sean Peters I think your attorney friend is your best resource in this, but if your tenant has an option to renew that's a part of his lease, I think you have no choice but to honor it - unless you evict for breach of contract.I suspect that if you do not evict and then raised the rent beyond what the contract allowed, a court would find you in breach of contract.If you do evict, be sure that you have your documentation complete right down to the letter.  

I'm wondering more about the type of letter to send.

Please let me know if they are reasonable.Insured Closing Letter = $125Tax Certification = $20Electronic Retrieval Fee = $50Notary Fee = $45Overnight Delivery Fee = $12Incoming Wire Fee = $22Good Standing Cert for PA LLC = $40Lender's Title insurance = $50Total Settlement company fees = $364Owner's title insurance = $1154  (Sale Rate - for purchase price of $105,000)Please let me know if these charges are reasonable?

Learn how to get a list, write a letter, find a service that will mail them for you and how to work the list and narrow it to what you're looking for.

You can make an offer without waiting for the LLC to be formed, just make sure on the offer letter you list the purchaser as yourself, or "LLC to be formed."  

-The offer is on a vacant lot being sold by original developer-I'm going for a Construction Perm loan, so I hv 30% + closing costs saved up for the entire CP loan-the next lot sold for 75% of list price, so I want to keep my negotiating power -I dont want to get a pre-approval letter since I dont want my credit pulled this early.

Every item has to be detailed and documented to the letter.