If you do foreclose on the property you will get all past due payments, late fees, loan charges, attorneys fees, and any forced placed insurance that you may have to put on there.

Good Afternoon Derone,It depends, you can either charge more a month and offer an amenity OR provide a-la-carte pricing it depends on your local market.

The bank cannot pay early and charge you the non-discounted tax rate.

Max out your credit cards and sign up!

I'll give you a quick run down on the closing costs from a duplex I purchased for 250K:Loan origination charge: $750 (this may be 1% of the PP, however we went through a credit union on this one)Appraisal fee: $275 (I've seen this fee go closer to $600 on some purchases )Credit Report: $11Tax Service Fee: $70Flood Cert: $9Title Services and Lenders Title Insurance: $1,520Owners Title insurance: $271Government Recording Charges: $92Transfer Taxes: $519Your pre-paids and taxes will depend on how you set it up. 

@Jerry     @Jerry W.undefinedAnd there is no stay from criminal charges under the Bankruptcy Code, Jerry will lock you up anyway (hehehe). :)

Both will run you about $160 for a year's worth of education in several meetings held throughout the month, but be advised that they are also heavy into information marketing (different speakers will attempt to sell you their programs) so keep your checkbook/credit card at home for the first several months while you gain your education.

You should experience very little maintenance for the first 3 years on this home, which is an important aspect to Turnkey b/c the first few years should be about banking your cash flow, afterall, you are paying close to retail and with that should come less maintenance cost and hopefully less tenant cost, but the tenant part is for the most part, is a wild card as even the most qualified tenant can lose their job, get divorced, married, transfer, etc.So long as the home has what I have laid out in the post, I would go for it.  

How much rent should one charge?

BUT please have done a loan like this before.I'm not looking to send my client to someone that's going to take advantage of her by charging a bunch of points to get this done.