Meaning if you pay the loan back you can't turn around and borrow $50K again right away, you have to wait a year. 

Then, if you turn over the unit and have to place a new tenant and they charged the 1 months rent fee - you are talking 4 months of ALL of your profits going to the PM.

You know it'll turn up as soon as this is all over :-)

I'm also thinking of turning a room downstairs into a bedroom with a simple wall.The TH is actually across from UCSD, not SDSU.  

But we invested several years of blood sweat and tears to get things stabilized and learn the space before we turned them over to property managers. 

What price range do you want to be in if you're going to take it down yourself.I wonder how all these deals will turn out.

If you’re referring to the “newbies” with $10k to their name that watch a video by Pace and get excited and pay for joining, go out with their last $5k and do a sub to with a “desperate” homeowner without revealing all the possible consequences (because they are unaware of the consequences through lack of experience and lack of knowledge and or choose not to inform the seller) then I agree, it’s probably going to turn out badly for all concerned.If on the other hand you’re referring to a seasoned investor with excellent credit, significant cash reserves, who wants to add a property to their portfolio without going through loan qualifying, and can pay enough to give the seller “walking away” money because of the low existing interest rates and or, and is dealing with a informed seller, then I find nothing wrong or negative about the transaction.  

We are local to Dallas and would love to see you come in and gather more information on Turn Key. 

Sounds to me like an investor turned down the deal because after finding out the actual payoff, suggesting the numbers are not investor worthy.

Even though it's tough, you'll get stronger and smarter than those sitting on the beach waiting for the tides to turn in their favor.