(Loan App, ID, Bank Statements, Entity Docs, Leases, Experience, Credit and Background Reports, Third Party Title and Insurance contact info) Once reviewed and all documents have been clarified, submit to the lender. 2.

I just told them no and I think I might update my lease to say fixed pets only.

If the appliances fail, you are bound by the lease to replace them and continue providing that amenity as part of the tenancy.I rent the appliances separately to the tenants (I buy them used) for $70/mo. for the pair or they can supply their own. 

Please advise resident chose to exercise use of the Security Deposit Waiver Program where they utilize an insurance provider to carry a bond similar but in lieu of a security deposit on the property.This program is a product offered through a partner insurance company, XYZ, that old PM has approved which serves in lieu of a traditional security deposit and provides reimbursement up toone month’s rent, functioning as if a deposit were collected.Please note that this product can only be activated at the time of vacancy, and it is automatically voided if property management services with old PM are terminated.It cannot be transferred to a new management company.In the event of a mid-lease transfer, your new management would need to either:Offer a similar deposit replacement product, orRequest a traditional security deposit directly from the resident.

Thoughts to purchase a commercial property with leases in place, perform a cost segregation and get some tax deductions for 2025. 

@Jonathan Chan Yes,RE investing can be passive.Learn about triple net leasing RE to operating companies or management firms.

This is often done through a sandwich lease.

If you want to run your short-term rental operation like a business from the very beginning, it’s better to have the lease and license under your LLC.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

You don't have a lease, so you are holding their money with no legal right to keep it.