It's a Ch. 13 Bankruptcy, but I believe there was a court order to lift the bankruptcy so that the lender could proceed with the foreclosure.

However, I usually analyze all deals with a 30 year term so that I'm comparing apples to apples.

My feeling is that apts are easier to track and compare, like apples vs apples.

So if you get a bad apple that rents the property on a short term lease, and they suddenly decide they really like not paying market value for their rent.

They have become more and more scrutinized (a few bad apples) by the Boise City Council and so design and implementation has narrowed margins.

>> Kathy>>Oct. 09, 2008Forgot to include these:The refrigerator and freezer door seals need cleaned.The stove top needs lifted and that space needs cleaned.Doggone it--one more!

I was in Bayou-LaBatre Alabama shortly after Katrina to help rebuild some buildings and I met a man there that builds those lift boats and he took our group on a tour of one of the boats he was building.

Unfortunately, it only takes one bad apple to spoil your day!

Private Lending isn't that bad of a deal, but sometimes you have a bad apple.

The most important part is to heavily screen tenants before renting so that you weed out the bad apples.