Real estate agents might be able to provide you a standard state contract, a real estate attorney can likely provide you one, and you can probably find samples online or in the fileplace (though beware that they may not be legal for your state).

You've found your CPA when you tell them that taxes are eating up what you make (b/c they are, btw) and the CPA knows how to reduce them significantly and legally.

You file it at the county recorder's office, and post a notice at the rental dwelling.I don't know if PA has something similar.So basically, your biggest fear is a legal one, but you can protect yourself.Granite is very hard to mess up.

Since you are required under fha guidelines to live there a year, the plan has been to wait until the year is up and then buy the next 3.5% down duplex.

Also, I'm concerned that I may start off on the wrong foot with the new neighbors if I rent the place out and we just fought a legal battle over the property line.

With that said I use a combination of Personal Property Trusts and Unsecured notes to achieve a complete sale, legal transfer, and still protect my asset.Bill I also really enjoyed listening to your method.

Sure, I could have gotten the same info free elsewhere on the internet (where all things are legally required to be true), but it's like my carrot patch out back... sure, I could wait a bit and get my carrots for free... but I'm still likely going to buy a bag of baby carrots at stop'n'shop, rather than wait.

No stats but non-eviction legal actions are pretty rare.

If you aren't legal you'll find it pretty hard to collect back rents, evict anyone or act in the place of the owner in title. :)

Also I want this to be fully legal and fully disclosed on my HUD and be used towards my downpayment/closing costs.