Quote from @Bhushan Shinkre: Few corrections, tenant simply decided not to pay rent and took further action of asking for refund of all prior payments (legally made via Baselane), which Baselane paid out no questions asked.

If I did my math correctly, on a 3,600 SF triplex where you buy the land for $150k, you generate a gross profit of about $84k (based on a $140/sf build cost and sale price of $205/sf), before you pay interest on any borrowed funds or closing/commission costs.

For the minor stain, I would probably get in touch with the cleaner to confirm whether it was there before and/or to correct the issue but again your property manager should probably be doing that. 

Yes, technically that is correct.

Yes, that is all correct, especially since we are in a very small town and the property location is fairly remote.

LOC's can have negative effects on your future purchasing power if not set up correctly and keeping in mind you can "never" use an LOC as a reserve or asset.It will always be a debt burden and can over inflate your back end debt ratios depending on the W2 income and your liabilities.

Amy:  I need to correct your statements because they are not based on facts. 

This was fully vacant property near the lake and Whole Foods.

@Francisco PineiroYou could call a few home inspectors in the market you are investing in and see if they do draw inspections so you know the items are correctly done before sending funds

@Jay Hinrichs @Patrick DesjardinsWe rep and warrant all notes (both re-performing and non-performing) to be a valid lien and to be in the lien position as disclosed at the time of purchase.Our current performance warranty on re-performing notes is as follows:"In the event that a re-performing note becomes delinquent, or enters non-performing status, PPR’s Loss Mitigation Department will notify the note investor within 30-60 days and then attempt to address and correct the payment issue prior to the loan becoming 120 days past due.