$100,000 deferred principal balance, about the same balloon payoff penalty, or $172,000 to bring it out of default to make it eligible for a refinance. 

I am a Columbus investor and frequently am looking at zainesville when the c’bus craziness gets me sad.I’ve done no research on the fundamentals of the market because I don’t trust the ability to find a reliable property manager, which for me is a dealbreaker:1.

The following are maximum LTV/CLTV/HCLTV ratios for purchase or LCOR when HomeStyle Renovation mortgages are underwritten with DU* (note that borrowers can also qualify for up to 105% CLTV with eligible Community Seconds®):- One-unit principal residence to 97% LTV/CLTV/HCLTV with FRM; 95% with ARM (Available in DU on March 17) (Note: For LTVs > 95%, on purchase transactions, the borrower must be a first-time home buyer unless combined with HomeReady; for LCOR transactions, the loan must be owned or securitized by Fannie Mae.)- Two-unit principal residence to 85% LTV/CLTV/HCLTV with FRM/ARM- Three- and four-unit principal residence to 75% LTV/CLTV/HCLTV with FRM/ARM- One-unit second homes to 90% LTV/CLTV/HCLTV with FRM/ARM MH LTV/CLTV/HCLTV ratios principal residence to 95% FRM/ARM; second homes to 90% FRM/ARM (Note: 105% CLTV is not permitted with Community Seconds)    - One-unit investment properties: Purchase up to 85% LTV/CLTV/HCLTV with FRM/ARM LCOR up to 75% LTV/CLTV/HCLTV with FRM/ARM

But if you're wanting the best return on your investment the dogs will give you fleas too and reduce your return to rubble.Also , When you buy a portfolio you still have to establish your intent to hold in order for them to be eligible for 1031 treatment. 

It is fundamental to your underwriting to figure out how much cash you need to put in and what the gross income potential is.

Do you know for sure they’re exchange eligible?

In my opinion, everything is hot right now and we investors just have to buy on good fundamentals and be patient.

There are some qualifications, but they’re passive entities which hold managed institutional real estate and are 1031 exchange eligible.

If you're a veteran, you're eligible for VA loans that have a really low downpayment requirement.

This is the fundamental problem I have with Wall Street who takes too much fees off the hard-working efforts of the middle class.