Do not rely on it as legal advice.

Hello all,
I am new to the real estate investing world and I am considering the path of rental properties but one of my major concerns is the chance of lawsuits against the landlord. We all know accidents can happen ...

I would suspect it has since the lender wants to accelerate.You could do a quick claim deed back to the owner - that should stop the legal  action.

Hi,I had this question in my mind always whether I should serve the legal notice every time tenants late with rental fees.

The bank might go up to 85% of that $400,000, but if you don't have the income or have too much other debt, they might only approve the line up to say 70%.

It was always pictures of damages with emails asking for funds for repair.USREEB has send me 13 emails over these few months wanting me to sign a contract stating that I will not report them to Better Business Bureau and give up my right to legal litigation.The negligence of USREEB have costs me over $17,500.

on one hand I feel I should have the lender lined up to be prepared, on the other hand I'm thinking that a HML wouldn't "pre-approve" you if you dont have a deal for him to look at lol. 

But will the rents be legal?

This conversion was done without proper permitting and approvals from the city and obviously the additional bedrooms are not showing in the county records.

In addition, if you chat with an attorney, you can start to get yourself familiar with the rental laws now, before you come upon a situation where you need to know where you legally stand and what your rights are as a landlord.