Get a group of people together who have a common interest and you have the makings of a group action.Some lenders will not finance a condo that is from a conversion.

A Warranty Deed transfers both legal title and benficial interest.A Deed of Trust (Trust Deed) only transfers beneficial interest.Let's explore the most common usage of the two instruments.

Remember tenants can commonly find free legal advice while landlords are consider wealthy crooks.Live and learn.

The other extreme, which is common in many old homes, is to wall over the entire fireplace.

Your agreement can even say that all maintenance is the tenants responsibility and state law will generally supersede any such agreement.

Determine your costs (taxes, insurance, maintenance, vacancies, etc), or use a cost factor. 3.

Though i expect to contract for $255,000 Details follow. 8 plex renovated in 2006 and 2007: new roof, all apartments new carpet, painted, new windows, new lighting fixtures, new kitchen cabinets and appliances.4 two bedroom and 4 one bedroom all with w/d hookupsCurrently 100% occupancy with 1 year leases.Sheduled gross income $3300/monthtaxes and insurance $2500estimated maintenance $1800all apartments on separate water and electriclong time handyman on premises gets rent reduction for service.

Consider all your buying closing costs, holding costs (utilities, insurance, property maintenance, taxes), and the selling costs.

For example:Closing on Purchase: MECash down payment: YOUFind tenants: MEScreen tenants: MEPrepare and sign leases and other dox: MEManage property (maintenance, escrows, rent collection): MEDecide to sell: BOTH OF USList property and conduct closing at sale: ME...From this you can better understand and justify an equity split.

Mandate is pretty common.