I am a fairly new investor, and just got a call from my property manager in Kansas City (I'm in California) that the house is destroyed.

This is great for planning and also locking in low prices without having to pay the cash at the time *The houses usually aren't destroyed because the owner is "voluntarily" giving up their house.

Friendships are destroyed by partnerships.

Now, aside from the dirty water, and the trash down there, this guy decided to really destroy the pool.This is South Florida, so we have a very high water table, and in the summer when it rains a lot, the water table is so high, that if you drain all the water from the pool, the hydrostatic pressure of the water in the surrounding ground will actually push the concrete pool's shell out of the ground.That's why you see the entire pool is now completely broken off and raised off the deck.I thought some of you might find that amusing, or not amusing.You can imagine what the inside of the house look like.

(I kind of had the lone ranger mentality at the time, not asking for help, and had not even discovered BP) That was about six years ago, and the extra work I put in has been totally destroyed (and I haven't even had bad tenants).

Gilbert in 88 (little damage) and Wilma in 05-which destroyed everything in its' path.When I was younger I also had a couple condos in Park City, Utah but that was so long ago this old FART can hardly remember anything about them.

As a HUD inspector I have to inspect those properties that are boarded up and have been destroyed with the scrappers and squatters.I will defend Detroit and I will also rip on Detroit.

Logan,Everything Darrell said is true, I follow credit closely and spend time on credit boards,,,there are companies that will offer to sell you 'seasoned corporations" with great credit,,,it just doesn't work that way in today's environment.Banks will only lend money to people/companies they can show can pay back the loans (by law),,,work with a mortgage broker, hopefully one that does hard money and traditional mortgages, have them look at your credit situation and develop a plan to be able to move forward,,,credit can be destroyed quickly, but takes time to establish.andy

Since you can't co-mingle, that means separate bank accounts with separate funds (which can destroy an LLC's funds if it's vacant for several months), separate accounting, separate filing of taxes, etc.

That will destroy your cash flow instantly.