Good luck :)No.Didn't plan on writing it up myself.Come to find out a friend of a friend referred me to a lawyer that's on BP.I simply wanted to understand the situation a little more before I walked into his office.I'm not trying to fleece the buyer, but the buyer wants me to tie up my property with him on payments when I could actually get a cash deal now.Interest rate and terms will be agreed upon by both parties before the buyer puts down his Option Deposit.I will have my lawyer draft the documents and I'm sure he would want his lawyer to review them to protect himself.He will not live in this unit.He will continue living in his current residence but rent this unit out as an investment property.Thanks for all the sage advice guys!

I can see the sellers point if you only gave the seller one dollar to tie up their property, and you bring so call buyers might spook the tenants in moving.

I think tying up as many short sales right now is important to keep the door open to a good deal.

I will make the offer "contingent upon inspection by my business partner (end buyer)"I do see what you are saying, and I do not want to tie up anyone's property if I do not honestly believe I can close with an end buyer.

I also have strong ties to Orange County/Long Beach.

Language included in these schemes include: “tying up the real property,” putting the house in contract until a buyer is found, and placing the home in contract for the purpose of re-selling the property.

.-15% for maintenance (this number is irrespective of rents and is more appropriately tied to the sq footage; 15% is a guess).-5% for capital improvements (capex).Those last 2 numbers are based on average expenses for Columbus multifamily properties that I've observed over a number of years.Don't forget there are other (small) expenses such as legal, etc.

The lesson here is to never close with work remaining un-done by the seller.

Amend lease to reflect the new property conditions and the new rent and have them sign and date.3) Request politely that they not use profanity, say you hear that they are upset by the change but unfortunately your hands are tied, and in response to any threats calmly assure them that "Pay rent or quit notice" will be served following the lease guidelines if they do not pay rent.Not legal advice, but that is how I would handle.I would also probably look at selling this property down the road unless the cash flow is really good.

(This is what I use in California) The concept is to keep the fact that the property has been transferred private.The sales transaction remains unrecorded i.e. the deed is not recorded or the contract of sale or the financing agreement.The transaction is maintained in the records of a settlement /escrow management companyEnough documentation is recorded to protect the seller and buyer in the chain of title without making the fact that the property was transferred public recordExisting loans, taxes, insurance are paid by the buyer into a collection account, which in turn pays all the accounts required to service the propertyRecording a deed or contract is not required in most states to make a valid transferNot disclosing the new sale to the underlying lender is not illegal in most statesKeeping the transfer from the lender is not a crime or against the law.