Sean: if you are currently the owner of the property, and you didn't execute a mortgage with your buyers, then you are not the lender/bank.

thanks, so if I understand correctly the "funds received" need to be deposited and cant be touched until the L/O is executed or terminated?

However, should you have to execute this you still have responsibilities to the tenant for a prescribed time frame after the fact.

Hey Pete my name is Edward just wanted to ask if you can give me some advice on FHA loans because I wanted to try and get a fixer upper for my family and I live there for a few years then eventually rent it out to try and execute cash flow.

I guess my question is related to the timelines involved once the contract is executed.

Management actually abides by the terms of the executed lease and EXPECTS YOU TO DO THE SAME.

He said that the concept really doesn't make much sense and that you need to state an amount (versus no amount) even if you don't actually even give it to them at time of contract execution.

We have a maintenance person on our staff.

They must all be executed by the trustee and no transactions with parents, grandparents, or children; brothers and sisters are OK though.At least that's what my CPA tells me.

I'm not suggesting having all executive rentals, but nicer middle income properties with current amenities and good locations.