I believe that the IRA has to pay the UBIT so if you did not know that you may not have enough money in the IRA to cover it.

Just look at the cover of the most recent issue of our trade journal:The California Apartment Association and about a dozen other big lobbying entities also oppose rent control too.

They will pay me rent and that will cover the mortgage.

We ended up putting a clause in the lease that we covered utilities (solid waste, gas, electricity, water, etc), but if any single bill exceeded $200 it would be charged as additional rent that was due with the next months rent.

If so send an amendment that the tenant be removed prior to closing subject to your inspection of the condition after removal If the eviction has already begun, it should easily be completed within 3 weeks.

I’m not sure how deeply any of you have gotten into the inner workings of the 203K loan, but in the spirit of sharing knowledge, I started a discussion on the subject here: The 203K Loan - Open Discussion.

It will make your property more competitive and if your tenants do start a fire then the rental insurance should hopefully cover it.

Hi Carlos,All you have to do is send him the security deposit statement with the expenses that you had to cover.

At the time the condo value decreased to about 160k and we decided at the time if we could just rent it out to cover the mortgage and fees, we could make some equity and sell it later even though we werent making cash flow on it.  

I'm new to the site as well.I agree wholeheartedly with @Jim Wilcox about the need for a strong lease (e.g. one that covers all types of situations).