But what I will say is that he is a disastrous relationship manager.

Stop investing time in workshop, and actually go out and look and work for deals.

My role with this MF company is to manage the design, construction of the GC's and opening of the properties.

@Joey Chalhoub This decision should be read narrowly to address statutory frameworks such as MN where state law permits it to take property to satisfy real estate taxes/penalties/interest, sell it, and keep any surplus outright.

But again, if you're going to take it down to change out furnishings anyway, then the timing could work out well.

I have been doing these type of loans for 30 plus years and buying foreclosures since the late 70s.. seen it time and again  ..

These properties are often easier and more affordable to manage.

By the time you do that 4-5 times you should be able to have a paid off home or excess funds to invest in other assets.

Maybe there's an angle for seller financing or some other creative approach to get the seller the total return they want over time, but it's hard to say without actual facts and data.

Rare in Texas I think to find a PM that wants to manage anything as rent by the room.