Every penny towards our down payment and all estimated rehab costs represents a choice to not eat dinner at a restaurant, not buy our kids the item at the top of their Christmas list, etc.

You're question is better answered by a lawyer which handles landlord/tenant litigation on a daily basis - and yes, there are plenty of instances in which a Landlord and especially a PM (which has a responsibility to an additional party - the owner) will be held liable for non-action.

Hi All, Just getting started in my real estate investment journey (I hear there are going to be some growing pains). I was just wondering if anyone can share their opinion on what are some important questions to ask a...

They then sell the rights to purchase it to Investor or Buyer· Real Estate BrokerThey represent multiple “Sellers” of properties.

I don't work in banking and I am not a lawyer, but I have been told that the acceleration clause being activated is an extremely rare event.If the LLC has a solid credit history, it's a different situation, but you might be looking at a commercial loan with higher interest rates, etc.  

*Note I am not a lawyer and this should not be perceived as legal advice!

If it's a few thousand in fees, it's well worth a consultation from a RE lawyer. 

The “key” elements of the transaction are explored first and usually, the most intensively.The buyer should provide the seller a comprehensive disclosure statement and include a term in the purchase agreement that obligates the seller to return the document within 5 days of acceptance.Professionals are hired to complete Phase 1, 2 & 3 reports that identify potential or existing environmental contamination and all other elements of elements that are difficult for the buyer to effectively evaluate.Financial Checklist3 years profit & loss statementsRent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 years3 years of tax returns12 months of bank statementsCurrent accounts receivable statementList of park owned home including copies of “rent to own” or sales contractsCopy of all current insurance policies, binders and premiumsSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc…For all utilities and charge backs, formulas, calculations and meter readings for the past 12 months3 years of utility billsProperty tax bills for the last 2-3 yearsCurrent staffing list including position, wages, job descriptionsCopies of any contracts that will transfer to buyer including laundry, trash, phone, equipment, etc…Dates and amounts of the last 3 rent increasesSigned rules and leases for each residentNames and contact information of professional service providers including lawyers, accountants, engineers, insurance brokers, inspectors, appraisers, realtors/brokers, etc…Physical ChecklistSpreadsheet for utilities that details age, composition, capacity, physical locations, etc…Any drawings or maps of the park and infrastructure including lot sizesSewer plant or septic system repair and maintenance recordsWater well tests and compliance recordsDisclosure from seller of current or recent problems with infrastructure including buildings, water, sewer/septic, gas, electric, etc…Names and contact information of contractors including plumbers, tree surgeons, electricians, gas inspectors, septic companies, roto-rooter services, etc…Locale ChecklistProfile local housing market:“Stick-built” – current foreclosure rate, months of available inventory, median home price, average rent per month, vacancy rateApartments – average rent per month, vacancy rate, prevalence of move-in specials…MHPs Comps – average monthly charges (rent, utilities, etc…), vacancy rate, # of homes for sale, etc…Profile local economy including population, major employers, unemployment rate and trendsCopies of city, county and state permits, licenses or certificates of occupancyCheck zoning for recent or pending changes to target property and adjacent parcelsCheck for known environmental issues with target property, adjacent parcels or in the communityCheck for major development or construction projects in the communityReview existing surveys or environmental reportsConsider geographic factors including elevation, annual snow fall, rain fall, proximity to bodies of water, etc…Disclosure from seller of current or recent lawsuits, regulatory or compliance issues, fines, fees, etc…

I did not, so that represents risk that I want to mitigate, which I did.

If your tenant calls the cops on the neighbors have them get a copy of the police report each and every time so you can submit that to the HOA as well.In the event your tenant moves out, that would be a good time to take the neighbors to court - personally I would take them to small claims so you can skip having to pay a lawyer - all you'd need is proof as well as proving your tenant moved out due to the noise (the tenant would likely show as a witness if you had a good landlord-tenant relationship with them/let them out of their lease).