If the lease says rent is due on the 1st, I would give her the option of following the lease or moving out.In the future, every offer to purchase a property with existing tenants should include a request for an estoppel.

If you are buying a second home and qualifying conventionally, then a second home purchase can be done with 10% down.

I am most likely going to start purchasing small multifamily/single-family homes in the Tri-Cities TN area this year.

@Vanessa SwitzlerI live and only invest in Greenville SC.It’s a great place to live and a great place to invest.It appears we have similar approaches doing JV and smaller syndications though we did do a deal with 281 units, too.My only caveat would be that I don’t consider Greenville to be a cash flow market - the growth is too strong and the demand too high.

Also I think it's worse stating that the smaller units the more desirable.

I am purchasing a new construction home. 4 bed 2 bath.

If we were to sell it now it would probably sell for 20K more than we purchased it for.

I added the details and expected rent below.About the homes:I have a 1200 sqf 3 bed 2 bath house in the Highland Park neighborhood I purchased in 2010.

Hard money will go 70% LTV on the purchase, so I asked the buyer where the other 30% will come from and he stammered and said he'd get back to me.

Ammendment - due to a precedent set of a father buying his daughter a pony, a man shall refer to a prius solely in the context of purchasing it for a mother, wife, daughter, sister.