2 percent rule starts to loose relevancy once you start exceeding gross rents of around 500 to 500 in my area and in many others from what I have gathered on BP.

Anthony,what you will save in great rates, you will loose in paying more for the property.

I will try to find a probate/real estate attorney to see how we can structure it without much risk of loosing the money I lend to the heirs.

With any investment, you will loose some of your freedom and create some issues that need to be attended to, it is not retirement unless you enjoy the business.Just my 2 cents.

Force the appraisal by way of Lender Commitment time frames and on properties you are worried about ride the crap out of it to get it done and in so you loose the least amount of time possible.Some ways to get ideas of how to have better contracts, take a look at the contracts from the foreclosed REO in your area.

Also, the bank doesn't want you to pay it off because they loose all the interest.

The loose their option fee in the process ... but paying 196K is still less than $202K.

Could you imagine loosing your home because of a fluctuation in the economy?

Plus, you need a huge down payment to make up for loosing the long term interest in the property as well as offsetting the capital gains taxes and subsequent taxes from the payments....and you have to deal with escrow and those costs.

And yes if properties here are vacant they will most likely loose the copper plumbing and copper electric wire.