In fact being current on payments is the biggest challenge to getting a short sale approved. 

Challenges?

As I addressed in another discussion, most money in real estate is made by long term appreciation and by improving, repositioning, and stabilizing the property, NOT thru purchasing at a discounted price.  

It’s worth reaching out to your lender to discuss the specifics and get a quote based on your improved property value.

The 38128 is slightly below the median and is in a decent area, but definitely an area on the more challenged end of the spectrum in Memphis. 

There are a couple of unique tax laws to real estate investors - 1031 exchange, bonus depreciation on certain improvements, Qualified Opportunity Zones, real estate professional status, etc.Make sure that the accountant you interview to understand the above concepts.best of luck!

Reliable, thorough housecleaning services can be challenging to find.

- Hi @Sunny WuThanks for sharing your challenge... it’s a tricky spot, but one that many landlords face.

However, these properties generally have a lot of land improvements that qualify as well as certain portions of electrical, mechanical and plumbing that can qualify.

This includes contacting the applicant’s employer and speaking with their supervisor to confirm job stability, income, and reliability​. if the person has not been employed at their place of employment they would require a guarantorCredit Score and Debts: Applicants need a minimum credit score of 620, and while we review debts, medical debts are generally not disqualifying unless they impact overall financial health.Criminal History: We do review criminal history to ensure safety and security for our tenants, while remaining mindful of state and federal guidelines.Rental History: Positive references from past landlords, with no evictions or significant lease violations in the past five years, are essential. and we can see into the court system if they have an eviction judgement.Release of Information: We include a release form allowing us to verify employment and rental history directly, which helps us get a clearer picture of an applicant’s background.This process has worked well so far, but I’m always open to improving.