Hi
I have a single family rental I'd like to offer to my tenant as lease option. He's expressed intereste and I'd rather unload my single family's and move money into multi units now that I have my "feet wet." My question is, where can I find a basic "check list" or rundown on who does what, etc. including a decent basic starting point. For example, I bought this house for 63, and put 6 into it for ARV of 69. Plus it sat for 2 months before rented, closing costs, etc. bring my total out of pocket ot around 72. It's a 3 BR cape that rents for $750 per month, and in a decent market it's probably worth 82-86k. Would making the payment 800 and making 100 go toward the downpayment be a tyical fair scenario? coupled with, maybe a $3,000 option premium? I would also love to know the typcial breakdown of who assumes what responsibility. I assume the tenant/buyer will now take care of maintenance, but what if it's something major? Like new furnace, roof, etc? Are there some gray areas? Thanks for all!



