I have a great credit score and can put a lot of money down but because I didn't report my sold properties on a schedule c on my tax return, banks argue I have no income.I've been in the biz a few years and have a few hundred thousand dollars that I use to rehab houses with but I don't want to spend that on a house that I will move into because then I can't use that money to do deals.

I think many investors would argue that you will go through some bumps early on by selecting the wrong contractors.Personally, my first two rentals cost me about $10k because I just didn't know how to run a renovation project utilizing proper contractors.

And I would argue any day that humans behave in illogical and unpredictable ways, and will do so forever into the future.The fact that predictions come from everywhere, on both sides of the bet, and every year/month/day doesn’t in itself make these predictions invalid.

If you aren't wasting your own time, your wasting other people's.You have four posts under your belt with half of them arguing about something you know nothing about.

In fact, some would argue that there’s potential for higher cash flow margins in lower income neighborhoods.

.- Ken McElroy (The ABC's of REI)

The replacement would be done in the summer (presumably when property is my possession) and seller argues he should not be on the hook for the full amount of the repair since I will benefit with a 15% increase in NOI.  

He argued a little at first but when he came home and I showed him the clog he agreed and decided to pay.

In a very simple example, if Contractor A is 5% higher than Contractor B, but can guarantee a shorter overall schedule without sacrificing quality, that may argue in favor of Contractor A, even at the slightly higher price (because the unit could be ready for a tenant faster).  

I would see ABC Bank is the mortgage holder on the preforeclosure list.