We are thinking of offering $800K subject to the existing lender's financing 100% of the purchase price to stop the bleeding on the loan.

A bad property manager can cost you tens of thousands of dollars in so many ways- worst of all, they can bleed you dry through neglect over time that you may not even notice it until it's too late. 

I'm a real bleeding heart but it's just never a "one time" situation.

That why if unforeseen issues arise you can drop down to the lower 30 year payment to not bleed cash. 

.- Don't have a bleeding heart- Understand that as you grow, there will be more and more issues with the properties and tenants.

@Gregory Breeden, they benefit by stopping the bleeding and perhaps not losing more assets to foreclosure.

Now, if you are trying to buy rentals here and there AND if you are disciplined enough and you can put your head down - America is an amazing country, we have fast WiFi and we can watch YouTube videos until our eyes bleed soon enough you can piece together information from BP and other different sources and put together a good portfolio. 

I spend way to much and bleeding money every month.. it took us a yeAr and a half to get rid of the tenant every month is 13 grand out my pocket...

When contractors aren't performing up to task or dragging their feet, stop the bleeding right away and get them out of there!

Sure, there's plenty of variation in this country but I'm positive I can safely stand by my statement that anyone who's broke and bleeding upwards of $30K a year on their home and transportation costs is just never going to be honestly able to attribute significant wealth creation to the elimination of their cup of tony coffee in the morning.