"Oren" wrote in message
...
On Wed, 2 Feb 2011 16:42:24 -0500, "Robert Green"
wrote:

Yes, finding the best lease might take a while. It's also why I might be
tempted to go with a management company for the first year.

One thing not brought up yet: _Lease with Option to Buy_

You can be creative in the lease and after a set period of time the
Lessee would get financing and exercise the buy option. Someone
without a sizable down payment (first time buyer) would have a chance
to own a home. They would be more likely to care for the property.

If the renter met the requirement in the lease, you could even become
the bank - gives you power to foreclose (if it came to that).

Yes, that's an interesting way to do things. But I worry that the incentive
to not destroy the property would disappear if the tenants discover you're
selling it to someone else. From what little I know of such situations,
"rent to buy" tenants always believe they've built up equity, even if they
haven't been able to bring their FICO score up enough to qualify for a
mortgage or save enough to cover down payments and closing costs.

--
Bobby G.