MY GOAL is to show ALL THE POSSIBILITIES, and to open everyone's thinking to looking for the positives each time an opportunity is presented.I believe we'll all be more successful, if we continually learn how to turn more "undesirable situations" into opportunities!!!

The thing to be careful of is that by applying an arbitrary 2% rule, it can lead people in to cheap, undesirable markets.

If a property appears really cheap in this area it is most likely on an undesirable location.

Do whatever it takes to keep them out so you don't end up in my shoes.There should be a primer on "legal ways to deny undesirable tenants", although I can't recall the last time I rejected someone with good income and credit.

Laws are about as clear as mud regarding 1031s/dealer status though.

I have rolled one ( I was younger and in sand) Gotten them stuck , Hit curbs in the snow ( always wear the seat belt) Dumped dirt and mud all over myself , ( foot pedals got stuck with debris ) Always be slow and safe on equipment.

You do this just like drywall mudding.

Asbestos could be in the drywall mud or plaster, flooring materials, ceiling texture, window putty and many other things which will surely need to be disturbed to perform the renovation and repair work.

Has anyone gotten to this point and been unable to acquire such a loan and gotten stuck in the mud?

If needed I will buy materials (paint, cabinets, flooring, tiles, sheetrock, mud etc and have it delivered to job site or picked up by contractor from the supplier) and pay for labor once the job is done.