I have the seller sign a Letter of intent to Lease and To OptionThe letter of Intent covers...Address, Rental Term, Renal Payment per month, Security Deposit, Possession Date, Option Sales Price (could new appraisal), Option Money (usually 3% or $5K min), Representations, Warranties, Covenants, and Indemnification, Legal Effect, Notice of Intent to Assign, Option Period (45 - 60 days)I have them sign the letter of intent (LOI), it goes to my attorney, and the attorney prepares the paperwork.There is an option release disclosure document that discusses that the buyer will be responsible for the following fee’s to be paid out of escrow at closing, which are for the release of the recorded notice of option, the assignment of negotiated purchase price, and the negotiated rent.2.

If the tenants are not paying on time then you need to address that.

At a minimum, speak to someone you trust on these topics personally before moving forward.

If you are willing to go far enough to get their mailing address, why not just call them directly?

I was able to address that issue with her with authenticity and sympathy.

Trust me - if you call and broker and tell them EXACTLY what you are looking for, they will DEFINITELY call you if they have a property matching your buying criteria.... its what we do... phone calls and research all day everyday to potential buyers and sellers.

I'm 39 and work in the financial profession managing investment portfolios for wealthy individuals, trusts, pensions, etc.For quite a while, I have been interested in purchasing multi-unit properties for long-term hold.

Court House steps, Trust deed sales, Short sales, Hold and rent, Section 8's etc etc.

The title company is going to record the deed of trust, but are saying that their underwriter is requiring a "mortgage policy".

What companies are folks using for hand addressed envelopes?