You just need to understand that they are perfectly within their right to accelerate the mortgage and do not have to let you remedy it because you violated the contract, or at least that clause of the contract.

I was just looking this up here, because I am just getting started and have an S-corp because I am a 1099 contract tech worker.

I wanted to throw the numbers out there to see if you all had any advice or if I was missing something.It’s a duplex, electric is separate but gas and water are shared.Purchase Price: 71,000Annual rent: 18,600Annual insurance: 1,200(est.)Taxes: 2,883Garbage: 290Vacancy: 1,860(10%)Maintenance: 1,860(10%)Management: 1,116(6%) 775 placement fee (50% one months rent)Capex: 930(5%)Total: 10,914Annual mortgage: 3,453.6018,600-14,367.60=4,232.40 cash flowUnfortunately management is a must since it is long distance.

Here is what I use as the start of my letter for management changes:I am proud to announce that your landlord has contracted with Olszak Realty Inc. to provide Property Management services for your unit.

It is a duplex, electric is separate but water and gas are not.Purchase price: 71,000Annual Rent:18,600EXPENSESVacancy:1,860(10%)Maint:1,860(10%)Managment:1116(6%)    750(placement fee 50% of rent)Capex:930(5%)Insurance:1200(est.)Taxes:2,883Garbage:290Total:10,889Annual Mort:3,453.6018,600-14,342.60=4,257.40 cashflowSeems like it could work, i am thinking i will have to bill the tenants for gas/water/sewer after I get the bill. 

Now this is where I start getting confused, I have yet to understand how to obtain an "assignment contract", which as we all know states that if I do not want to purchase the property I will assign an investor who will.

I have put a house under contract and currently in due diligence phase.

I even heard of some investing in lottery winnings and/or sports athlete contracts before.

I am buying a property on Land Contract, and am buying it with equity.

Hi Andrew,I had a similar situation last week with a contract I offered on.