If its under water Also who was servicing the loan and what state is it in.

Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

Jack Milleryep, it's the part of the RE iceberg that's under the water.

The paint in the kitchen had grease stains and many water marks and looked horrible.

To us, the draw is the resort and their water park. 

Thanks for the warm welcome!

@Mario CastellanosBIG assumption but if accurate it means the property is under water meaning they owe more money on the property than it is worthThey would not be able to sell it without lender permission essentially.

However, the Most alarming thing is they have allowed the water bill (they pay for all utilities, but the city bills the water to me) to mount over $2k over the last several months.

The zip codes are 39211 and 39047.Would you say your comments hold water for those zip codes?

If landlord pays water/sewer, and with more occupants you know you will see higher water usage, think you could make a logical case for some additional rent or per person fee to cover that.