There is a 12M funding coming in w/ new equity partners in 2 months which pays off all outstanding debt. 

@Jay Hinrichs  Thanks for your posts on this thread as well as your many outstanding other posts throughout the site.

They are Nation wide

Also since my goal is practice  (while I save a downpayment)), maybe I should analyze any fourplex deal nation wide OR should I just broaden my local search from fourplexs to multifamily in general? 

Once this outstanding receivable goes beyond a certain point in time (days overdue) it is moved into "bad debts" and eventually, if it remains uncollected, will be written off.This is how we handle delinquencies. 

@David Veeder, thank you for the outstanding and thorough response.  

The general rule is that a veteran may have only one outstanding VA loan at a time.   

@Andy Bankston I work for a wholesale brokerage firm who has 15 offices nation wide.

The business seems much larger, since there is 17 locations in the area and was told there are thousands of offices nationwide...Commission:level 1: $0-$25k 60%level 2: $25k-50k 65%level 3: 50k-70k 70%level 4: 70k-100k 75%level 5: 100k-150k 80%level 6: 150k-175k 85%Level 7: 175k +     90%Fees:$300/yr, E/O insurance$100, new agent setup fee$75/mth, marketing fee$72/per 1000 business cards$18/per name badge$225, FAR/NAR Membership initiation fee$460/yr FAR/NAR annual membership dues$90, MLS setup fee$350/yr MLS annual membership dues$50, supra key setup fee$275/yr, Supra key annual membership dues$110, lockbox purchaseFlorida Luxury Realty from the beginning was kinda hidden off the road, the office is hidden in the back of a business complex in regards to the one office i specifically went to, its very clean and professional looking, just the office overall is not very lit up or fresh looking...and when i dropped in there was noone at the location outside of the clerical person at the front desk from what i could tell, most of the office was completely dark...

Don't forget 2008/2009 when values dropped nationwide - this could happen again, even in Charlotte.