I don't mean when you have to legally inform the tenant. which I believe in my state it is 30 days prior to lease expiration and if not done then it automatically kicks into a month-to-month.I mean would you let your tenant know say 3 months before lease expiration so that they have more than enough time to make a move out plan instead of being surprised 30 days out?

I wouldn't be surprised that even with the town being rebuilt, they may have a hard time finding good renters.

On top of that, you can add 10% (or whatever) for surprises, but that's in addition to looking at EVERYTHING in the house.

. :-)Tenants sometimes surprise us too.

@Rumen Mladenov I am not too surprised to hear about the high competition in Newark.

You may be surprised to find people in your community who are successful investors (you had no idea they owned 100 houses!)

@Angelo Mart you have good inputs from  @Eddie Memphis and @Nick Britton.This is not rocket science and you will be surprised at the small amount of time it will absorb.I am an out of State investor and manage all of my properties remotely.

If not, I am surprised the agent is saying that you don't need one, it usually is the requirement of most brokerages to have one. 

You would be surprised how few notes actually get wiped.

I know NYS has a kajillion regulations so I wouldn't be surprised to hear only negotiators (or only RE brokers, etc) can do this verses your attorney or the interested party or investor.My second question would be if the interested party or investor cannot negotiate with the bank, then how do you go about finding the right person for the job?