Dept store cards typically have the highest rates, worst fees, worst penalties and if you can only use them at dept stores they tend to create situations where people buy items (clothes, shoes, electronics) that they cannot afford.

In this crazy market, ** if you have 5 Tenant Buyers psyched and excited about the Rent to Own concept of buying a home today instead of renting, then ** you can go find the houses, buy them with either Sub2, Land Contract, Lease Purchase with sub-lease and sub-option provisions, or Cooperative Assignment (you Lease Option the house, then sell the agreement immediately for a fee).

Subtract off your closing costs (2%, roughly), loan fees, and rehab costs and you have the max you can pay.So, build a little spreadsheet that has rent as the input and calculates max cost, which is the price plus rehab.

Hey Jason, thanks for taking time out of your busy schedule to give me some knowledgeable advice about this topic.all I need now is to know how to keep my attorney fee's down when creating these contracts lol, which I would like for my lawyer to draft so that way i'm well protected at an advantage (my lawyer charges $320 an hour, thats why I'm concerned about this issue).

Jeffrey, Operating expenses include taxes, insurance, management (even if you do it yourself), maintenance, advertising, office supplies, legal fees, evictions, damage done by tenants in excess of the security deposit, entity maintenance, utilities (if only during vacancies), vacancies, capital expenses (not technically an operating expense), etc, etc, etc.

Also, I know not everyone can pay the assignment fee and most lenders won't lend on assignment fees.

These guys sold the income for fee's.

I plan on having the seller buy me out of my option and collect my fee as a lien holder at closing, have the money wired to my bank account, and never be at the closing.

No one around here can come up with any more than that.I almost never have tenants try to use their deposit for their last month's rent, and the few that have tried have backed down immediately when I reminded them that they didnt pay first and last.I don't think any of my tenants can remember what they paid for deposits, so it wouldn't make any difference if the deposit is the same as the rent or not.One thing I have statrted to do is to charge a non-refundable pet fee instead of a deposit.

Ultimately, the seller should not have a problem putting the property into a trust with themselves as trustee if you are willing to pay the recording fees.