This led me to many other interests like passive income & ditching the rat race.

I have seen more than one otherwise viable condominium project driven into the ditch by disagreements between developers and contractors.  

I'm set to schedule the pump outs and inspections today (22 at $250ea = $5500) so I'm doing a last ditch social call out in case I'm missing something obvious.

Just let me know if you hit the point where nothing is going to happen and you are all done, so I can go try for a listing :)For the bonus question, banks pretty much lend as long as the value of the property is there, they kick each others grandma into a ditch if they can write a new loan on something.Good Luck!

If you take payment up front make sure that the person paying their rent,  knows it goes against the account for the property, so basically they would be paid in full for the first 6 months not 12,, it's not considered a split portion of rent it goes towards total rent for the apartment,  and your not dealing with incidents if other person ditches and 1st person is stuck.  

I still don't claim to know it all, but I know what things should look like, and if my contractor ever ditches me for another job on a certain day, I can walk into the property and know I have some things to do.

@Thuy Pham-Satrappe ditch that contractor I bet he will take your money and run. 

Purchase price: $118,500 Cash invested: $22,500 My second property, the most expensive, the most work needed, the worst layout, probably my most regrettable purchase.I bought this one while living off grid and on the road throughout Northern California, having already quit my job it just seemed my last ditch effort to aquire a loan.I have LEARNED SOOOO MUCH HERE, and have been building an amazing network of laborers who help and teach me so so so much, it's been one of the largest learning experiences of my life!!

The sale is already done and the redemption is purely one last ditch effort/opportunity to take the property back from the foreclosing entity/buyer for the amount that it was foreclosed on and nothing less.

And I'd never recommend ditching your wife or the dog but it could be time to ditch the bad rental and 1031ing into something that makes more investing sense.