If the tenant breaks the lease the value in the addendum is added to any future collection attempt.If done correctly, in the right area, this can decrease the amount of turnover and increase the speed with which you take on new tenants in the event of a vacancy.

That said, you should have sufficient liability insurance.As for your second question, the only things I can think of are:have the seller pay closing costs (as seller financing), which isn't really decreasing the cost so much as deferring the costDon't use an agent, then convince the sellers agent to split the commission with you instead.Buy all cashUse private money with no up front costs - but if you refinance you'll be paying them on the backendShop around with different banks.

Time to flex my marketing muscles and find someone who wants to pick this property up.Thanks again for the help everyone!

At a certain price point the demand will decrease and so will home prices, assuming supply stays static.

Why does rent increase or decrease when another person moves in?

You can ask the seller to pay your closing costs to also decrease money out of your pocket.

So as you move into higher price brackets, your cost to repair and improve will decrease as a percentage of the property value.

The MPC tells us that the value to a consumer (borrower) decreases as consumption (ability to obtain funding) goes up.

I personally would not want to invest there because according to the population statistics, it has been constantly decreasing for the past 20 years.  

During the slow season, do you decrease the rents?