And clearly outline and communicate that both option fee and rent credit are nonrefundable in the event the buyer backs out of purchasing the home or defaults on the payments.

Now that I look back, I think the better move would have been to refinance and rent it out using the equity to purchase another rental property.

If the resulting tax liability significantly reduces your net proceeds, it may be smarter to hold the property as two rentals, benefit from ongoing cash flow, continued depreciation deductions, and possibly use a 1031 exchange in the future to defer capital gains tax entirely.

You will also have to know if your TOT permit is transferable, or if the new owner will have to re-apply, this differs by County.Also have a thorough P&L to hand out, it is always so appreciated for buyers to get the whole picture.

Purchase price: $480 Cash invested: $40,000 Condo in Carolina beach.

Hey Alec, check out Noble Crawford. 

I started with a condo my family outgrew, didn't need the money so I rented it out.

Hey Mina, great question, and honestly, there isn’t a ton of clear guidance out there on how to lease to sober living operators.We work with a national network of recovery home operators who are actively looking to lease properties --- especially in areas near treatment centers or public transportation.

Here is my dilemma.To my knowledge if a claim is approved and a check is cut, it's my decision if I want to get the repairs done, OR cash the check (please advise if that is not the norm). 

I have plenty of clients cash flowing with 10% down.