The only way to really take risk on these buildings is to assume you have a solid set of bones or go by outside condition and figure everything inside needs to be replaced. running numbers on anything but this would be pure un educated gambling.

It can be a gamble, but you're playing 2 strategies at once if you're B&H.

I would be thrilled to have an unemployed tenant simply disappear and not cause damage!

Joel, this was a yield chasing gamble, and I did spread my bets.

As a hypothetical: "Betty, who has a gambling habit, has been taking $x,xxx,.00 a month from 7 client's accounts through fraudulent invoices and payments to a fictitious company.

I'm not sure the bank would even allow you to charge the seller the difference -- on the HUD, the bank would protest, and POC you'd be breaking the short sale affidavit you signed saying there were no financial agreements other than what was disclosed on the HUD.It's all well and good that you take a hard stance with the bank -- and it's great if they cave and you get your desired commission -- but arguing that you have any legal right to a certain percentage doesn't make sense to me; and implying that you'd forego the transaction or charge your client the difference seems flat out unethical for a short sale.Again, as a licensed agent myself, I'm thrilled if you can get every possible penny from the bank, but your stance seems a bit too ideologic here, as opposed to doing what's best for your client.Just my $.02...

In the mean-time, I will check out uDirect IRA services as we have not been 100% thrilled with Equity Trust.

How to handle Returns, %'s, my time managing the renovation, then my time managing the property, etc......Keep in mind I am interested in buy and hold, not fix and sell.Slightly complicating this is that though I am a buy and hold guy I'm not thrilled about the idea of holding a property for several years with a relative knowing the property management issues that might arise.

I'm sure IBM would be thrilled to deal with higher income and the taxes that go with it.For the most part, as long as taxes are not at 100%, you are better off making more.

I agree with Rob...it's like gambling....you do what the precentages suggest...but you're always hoping for the one last thing to happen that will make you a winner.