You will collect your tax statement from the lender and basically duplicate it to the new owners, both of you cannot take deductions for this3.

Hey BP,I've done some google searches and searches on the forum but still couldn't find the answer.Example:Total Loan Value: $200kMortgage Left to Pay: $100kAppraised Value of House: $300kSo this means I have paid off...

This often happens because the landlord forgets to ask for certain remedies when bringing the ejectment action because they are in such a rush to get the tenant out.In Pennsylvania, an appellate court held that these installment land contracts are basically residential mortgages as well.

So I carry around a form, an affidavit that basically says that under binder# or policy number such as such between such and such dates, they will hold us harmless for any claims.

It seems when adding in the property manager-- you would be basically breaking even?

Hi All,This may be super basic but I cant figure out how to follow a forum that inst local to me. 

If parent company guarantee then the whole company would need to go under (all locations) to basically make the guarantee worthless.If it's a full personal guarantee on the lease then the landlord can come after them personally and they would have to file personal BK to try to get the debt to go away.

. :).. plus our basic storage needs and over flow of toys.. 

@Patrick Fraire I'd counter at $330k + 1-year of rent for this friend with the contingency that the friend sign a lease agreement with you, which would basically be a pre-paid 1-year lease.

It is "the yellow book" covering all the basic rental practices and even imparts the unique landlord sense of humor you will develop over time  (via the funny cartoons).