I don't give a frog's fat butt if it makes his job more difficult, and honestly, you have to do math anyway during the course of the loan.

Latest news is that BS is going out of business at the end of the mont.In the last week I was able to obtain few pictures from the outside the house showing no work done outside at all, and I just can imagine what is going to be inside.So folks if you thinking of investing with Morris and Natali Morris from Morris invest run away fast or you'll get burned as I did.Now #claytonmorris  moved to new markets like Detroit Mi, Jacksonville Fl and who knows where elce, so be aware.At this point I am in the mud not sure what to do.

I do not think this was a major strategy killer, but the house sat empty during peak rental time (Summer before school started) and is still vacant at a price above Proforma.Some Observations: Closing costs came out to be much higher than the proforma estimateTaxes were spot onProperty Mgmt. fee spot onThe vacancy is listed at 4%, even though PM says I takes an average of 45 days to rent, so it’s a broad average I’m assuming after tenant leases or across all their properties.They advertise 2-year leases during the tour and most turnkeys are rented prior to closing, not the case for my property, still vacantOne inquiry has come in for a family whose house burned down, but they want 3-month lease smack in the middle of winter for another renewal, not optimalNeither the marketing department nor PM inside Reedy was very proactive as far as communication.

I and my sellers get it without any of the fat.

A friend of mine just got burned with his condo in San Diego following the self managing strategy.

But we had a rash of teenagers burn down almost every unoccupied house in town.

The description says that it's a burn out house and is not livable.

@Lee Burns  Step back first and make sure it's really a deal. 

The market is closer to "euphoric" than it is to "distressed", and while you can't time the market, getting burned in your first deal might be too hard of a lesson to recover from.

I can tell you from hundreds of my clients perspective.they don't want to have the burden and work that goes into being a landlord.. they want mail box money and more passive investment that is secured by the same asset that a landlord owns.. there is a reason those banks have those big shinny buildings.. its massively profitable and done right less risk in many cases of being a landlord or at least let me say a ton less work.. your not dealing with the day to day.. even if you have PM you have to manage them.My note buyers are almost all experienced landlords and as their days of landlord burn out come to fruition they switch to being the bank.. keep in mind unless the house is sold for cash.. everyone buying a rental has two steps  equity and debt  IE their equity and the bank or  lenders debt.Along with shorter term holds.. and if done right no cash calls.