. $1000/wk that we spend on vacation rentals in that area when we use it ourselves for 3-4 wks out of the year minimum.

There are three forms a lease, a option to purchase and a purchase contract, I have one set of paperwork I do with the seller and a separate agreement with the buyer with a different set of terms.

If you agree to do a 60 month term agreement and tenant leaves after a few months then you have to make the payment if your agreement states you do.I have been looking at doing performance based lease agreements.

It is pending foreclosure sale on a month to month basis as it is in a forebearance agreement currently.

Go ahead and sign the agreement stating that you will start making payments on the agreement as soon as you find a suitable tenant.If that doesn't work then just take an option on the property.

Here's how I'd evaluate it to determine the minimum required rent to make it make sense:P&I payment will be $2200 on $330K at 7% for 30 years.

Purchase and Sale agreement with seller and Assignment to investor

I recently started advertising in via leaflet distribution and advertisement in local news papers to distress properties sale and hoping to buy few properties in London using no or minimum o four own money.

You need to get an agreement signed by seller showing you are merely assisting in marketing the home and are charging a commission or some other contract protecting your interests.

However, when we filled the loan application it included the lease agreement and the copy of the checks for the lease.