Doesn't mean you can't try but if something can't be done before close I wouldn't risk closing on it hoping someone would move out of a home with a fully executed, proper and legal lease in place in the hopes you can buy them out.  

If he passes away before the loan hits maturity, his children inherit the note and pay no capital gains.The benefits for the seller are that I was less likely to back out years down the road or running into a situation where I just couldn’t get a loan at the time of purchase or any other external factors that could have prevented me from executing the purchase.The benefits to me are that I own the place today, am paying down debt and building equity and I got to use massive bonus depreciation to help my personal tax situation.One thing I would recommend either way is have a couple banks look at the deal today to give you an idea of what they would like to see when you ultimately need them to finance the purchase or refinancing.

And since his client only has a month left on his lease, there is no way you have the time or desire to execute a new amendment to his lease.So, his client will be under the existing lease, you will post his rental, and file in court as soon as you can in your location. 

IF you are going to do something niche (like target Oakdale school-age family renters, Executive rentals, or Section 8 rentals having a 4th bed isn't likely to push your rent value up much over a 3 bed and most of the time adding a 4th bedroom into the space of a natural 3 bedroom home doesn't help your value at all.2.

Good information about finding the right market and forming the necessary team to execute your investing strategy.Best of luck, Mel

If I buy a site and pay so much that it only pencils with the national credit tenant on there then I do not want to own it until there is an executed lease with non-refundable hard money from the tenant.If the land is so cheap that national tenant passes, regional tenant passes on the site but mom and pop wants it then I can still make money for the low price paid so do not mind owning it and land banking it for awhile. 

I started by becoming an expert in one strategy (the BRRRR strategy) and executed on it to build my portfolio.

Execute a plan to add value and get into stable money.

Purchase price: $180,000 Cash invested: $36,000 Current Executive Room Rental What made you interested in investing in this type of deal?

Purchase price: $142,500 Cash invested: $28,500 Another Airbnd & Executive room rental What made you interested in investing in this type of deal?