In a lease option the tenant buyer is responsible for basically everything besides debt, tax & insurance.but 2% Price to rent(reno) is a safe bet.All the best!

They can do a quick feasibility analysis to help you understand a very basic scope of work, but when you need more a detailed report, they will do a WWU/SOR that can be used for your 203k loan, and this WWU/SOR will also include a cost estimate that can be used to help gauge contractor's bids.And thank goodness that the Standard 203k requires a contingency reserve to be automatically included with your 203k loan (10%-20%), but the Limited 203k does not.

Just thought I would take this opportunity to share with you some additional basics that I have learned within my short venture into investing with Tax Liens.My state (Alabama) currently has a 3 year redemption timeframe and pays approximately 12% per year.Ok, I assume you know the foundation on how to find listings and researching the properties etc.My discussion will begin with what happens after you purchase your Tax Liens.Firstly, be aware that most Tax Liens will be redeemed approximately 90% are repaid within the first year.Secondly, after the sale the previous owners are usually notified that their property has been sold and outline their rights of redeeming the Lien without additional consideration (aka cost paid to you the purchaser) if made normally within 10 days of notice.Thirdly, the annual percentage rate will only begin after you have held the Lien after 30 days; therefore you will receive only the original cost you paid on the Tax Lien; no more, no less.Lastly, you are not the homeowner just a Lien Holder therefore no keys, no access to the property, no look through so etc.  

However, I noticed that the Mold Notification Addendum and Mold Information were not included in the basic package.I would like to ensure that all essential forms are included in the lease package.

Basically, the IRS assumes that when a property is sold with seller financing, some portion of the payments should be classified as interest.

But you have to many basic questions unaddressed. 

There is basically no cash flow in long term rentals anywhere right now. 

You can buy quickly and it's basically like cash. 

I will just cover some of the basics that I have learned.

.🔹 Other Good Options: Avail (tenant-friendly with maintenance tracking) or Cozy (basic, but works well).💡 Pro Tip: If your tenant is hesitant about switching from Venmo, start with a hybrid system—allow them to use Venmo for the first couple of months, then transition them to an automated rent platform.