If you still want to lend the money on this deal, I would go in strictly as a lender and not a "co-investor", and I'd get additional collateral because any mistakes by the guy who is actually doing to the work could cost this deal all of it's projected profit in a heartbeat.

Everytime I get a new home or tenant I just add it to the system and the tenant pays on line and it goes straight to my bank account.

Send an additional check for additional principal payments with a note similar to: "Enclosed please find a check for payment number 6 (for example, we'll use number 6).

In addition to what Ken mentioned, there is also the FCPB, they can just look at a deal and find it as a bad business transaction, in line with fair trade practices.

So once that was agreed I had a bump in closing costs so I asked him if he would do 400K with $19,100 Back . reason I kept moving up slightly in my net to him was to cover the additional tax he would pay.

The tenant wants it and if he can get the thing working, you've got another selling feature for the unit in the future.However, I think you should still add it to your insurance anyway just so you're covered.

Just figure out how much its going to be and tell each tenant "you must pay me X each month, in addition to the rent, for trash".3) Divide the back yard with a fence.

That is essentially what you would be doing by refinancing the existing residence.In addition, at your option, you could turn that extra cash flow into the property paying it off even sooner than you can right now at the same monthly break-even to loss situation.4 points seems very high.

Now, I get that someone who thinks you might relieve them of their financial misery is very unlikely to harm you, just like a person on a rope bridge with you is unlikely to cut the rope bridge, but you know, if you meet 50 new people a year and turn your back on them in their house, you might have one with nefarious motives.

Hi guys,Wanted to bounce this off you for additional thoughts and feedback I may be missing.