Therefore if one does have an opportunity to make a principal payment (consider the person that might receive a large commission/bonus payment) the following month, the payment will be based on the new (lower) balance.However, just as any tool can be used for the wrong application, so too have many people used this type loan for all the wrong reasons.The two most common being 1) purchasing a larger house than one can truely afford just because the Interest Only feature produces a lower initial monthly payment. 2) purchasing a property with appreciation being the only goal and only exit stratagy.In any event, it is my opinion that it is usually not the best product for the average person or average circumstances.

I wanted to touch base with you all and try and return the Welcome Wagon back to its initial roots . . .

That's why you charge them higher interest and make them prove they can pay rent for two years before the banks will trust them.

If you have a nicely maintained and upgraded property charge a premium.

They might have a means by which they can manage the property at a reasonable fee.Please note that which ever management agency you find they will charge you an extortionate fee to manage the property unless you lease it to a renter on a long term.In Houston you have many options.

Let's say a tenants asks the LLC to repair a broken deadbolt lock and it takes you 3-4 days to get around to it, and in the mean time someone breaks in and assaults your tenant, you could be charged with negligence towards the safety of your tenant--this is serious stuff.

Even assuming they're charging $600 for labor on the door, that leaved $4K for the deck, or $40/square foot for labor and materials.

As the bird dog, he has no way to get himself in the deal without a fee agreement so I ask him what he's going to charge.

Rule 1 of landlording; THE LANDLORD IS IN CHARGE.

Money is my initial problem in a real estate investing business and hearing a part of the cd of Almost 101 Cash Flow Strategies Real Estate Course made me think twice of what I am doing with my present activities.