Im really new to the landlording game, and im trying to get clear information on how to properly and legally deny a tenant application.

(Im on my trade associations public policy committee, and this is an issue we have a big voice in)Also, Im just quoting these regs quick and off the top of my head, dont take them as the exact or only regs concerning this.In Montgomery County...it is hard to find a property that has the driveway space to make them legal.

Will it get too messy as far as exit strategies?

Don't use a contract for deed as you have no legal protection..do the paperwork as a real mortgage like a bank. 

@Manny Cirino it obviously sounds like a procuring cause case....and you should entitled to the commission in the contract plus you have an expiration clause....might be worth it to legally receive your due commish!!

But it was not enforced, hence you got doctors, lawyers and models living in a legal cutout for artists to be able to live and work in the city.

Without that, there is no legally binding, enforceable contract.Assuming you do have a written contract, it should say in the contract how long you have for inspections and what rights you have with respect to entering/inspecting the property. 

Hi, saw there are several websites that offer for money to have contracts and other necessary documents for a monthly payment.
I would like to have a website that would let me add stuff and take off stuff and everyt...

I can DM contact info for a good CPA if you want it, just shoot me a message.This isn't legal advice, just my opinion as a real estate investor.

GeoffCosts Due at Closing Points: 3% of loan (one time) [only financed at 70% of ARV]Origination Fees: $1,020 ($400 document processing + general administrative costs, $575 legal fees - preparation and review of all documents, $30 application fee (charged at closing), $15 flood certification)Appraisal Fee: $400 - $475 (paid directly to state licensed appraiser)Insurance: ARV x .45% -- (paid for 6 months in advance before you close; can choose any insurance company as long as it meets minimum requirements HML has + lists HML as mortgagee on policy)Buying Closing Costs: 1% of purchase price (title insurance + escrow fees)Outside Costs (Holding) 4 Month Flip (120 days): 2 months of construction, 1 month on market, 1 month in escrow/title; plan for 6 months Monthly payments: 1% of loan Utilities: $230/month (varies; $125 electricity, $60 water, $45 gas)Property Tax: $3,000/12 months x number of monthsRealtor fees: 4% of ARV (multiple realtors that will list for 1%)Selling Closing Costs: 1.5% of ARV---------------------------------------------------------------------------------------------Example of House:Buy at $120kRehab at $50kARV at $230kCosts Due at Closing Points: 3% of loan; financed at 70% of ARV ($230,000 x 70% = $161,000 loan) $161,000 x 3% = $4,830Origination Fees: $1,020Appraisal Fee: $475Insurance: ARV x .45% $230,000 x .45% = $1,030Buying Closing Costs: 1% of purchase price $120,000 x 1% = $1,200TOTAL CLOSING COSTS: $8,555------------Outside Costs (Holding) Monthly payments: 1% of loan $161,000 x 1% = $1,610 x 6 months = $9,660Utilities: $230 per month $230 x 6 months = $1,380Property Tax: $3,000/12 months x number of months $3,000/12 = $250 x 6 months = $1,500Realtor fees: 4% of ARV $230,000 x 4% = $9,200 Selling Closing Costs: 1.5% of ARV $230,000 x 1.5% = $3,450TOTAL HOLDING COSTS: $25,190-------------Out of Pocket Portion for Rehab: $9,000TOTAL OUT OF POCKET COSTS: $30,095TOTAL OUT COST INCLUDING REALTOR FEES AND SELLING CLOSING COST: $42,745Calculations-------------------------------------------------------------Buy at $120,000 + $33,745 (costs) + $50,000 (rehab) = $203,745Sell at $230,000 - $203,745 (costs + rehab) = $26,255 (PROFIT)Cash on Cash $26,255 (Profit) / 30,095 (Total Cash Invested) = 87 %Return on Investment $26,255 (Profit) / $203,745 (Total Spent including all cost) = 12.8%