We have an addendum that we serve if this occurs that essentially gives notice that the home has been abandoned, and if we don't hear back from the tenant in the prescribed period we will take the property back per state code.Check to see if Georgia has this same thing.Then update your leases to include this for future tenants.Or find a rental association that provides leases with these baked in.

If rates drop in the future, refinancing again could lower your payment, but it’s good to make sure the numbers work now just in case.

In the future you will have smaller deductions each year than you would have had if you didn’t do this.

So, for future sakes, I wouldn't get involved in these deals, unless I have more of a gap. 20-23k or so of profit is SUPER tight.

In the future, be very specific about these agreements.

From my understanding, mortgages are considered riskier investments than most other loans because the borrowers can repay early with little to no extra cost. If I hold a 6% bond and the rate on new issues drops to 3%...

@Sherry TsaiWhere are people going to be moving to in the future? 

There is a lot of upside and the future looks good too.

When I think of waterfalls, I think of something like the LP getting say 1) a 7% preferred return 2) return of all capital AND then 3) the GP gets 25% split of all future proceeds/profits.  

I find with ANY project on a property, PLANS are worth their weight in gold bc they will show the exact inches, ft, etc that the project entails.