Double close is perfectly legal, but some banks have convinced the title companies to play by bank rules because the banks have so much influence and leverage.

You recall the old 80/20 rule: 20% of the agents will do 80% of the business.

So taking the 50% rule you are looking at slightly positive cashflow if the 50% counts for Tax and insurance, if it doesn't it is in the red. 

We have to because of Fair Housing Rules (If you have a single unit that two different people applied to and received different results because of different application methods even though they have identical background checks, that is a fair housing violation).

You would be held to the same rules as lawyers, though.

I am purchasing my first investment property in two weeks and was wondering what are your top 5 rules/policies/terms that you like to include in your lease agreement (that aren't found in the typical lease agreement)?

I personally use Rentometer Pro and go with the lower of the average or median area rent as my rule of thumb.

It takes time to establish credit (3+ years) but once you can prove that your able to pay back debts the banks will want to lend you more and more; which means more opportunities in real estate.Here's a few rules you should keep in mind...1.

Due to many court rulings, if a tenant with an option to purchase chooses not to move out, it could require an eviction.

Here's a rule in life, if it seems too good to be true, it is probably too good to be true!