Monthly debt service at 7% interest.

@Philip MurphyYou would need to have the taxes paid and payoff his mortgage for you to receive clear title and title insurance.All debts on the property must be satisfied to provide clear title

Tell buyer, 1) I don’t have funds required to close. 2) you can raise your offer to the amount needed to pay off both debts or walk away. 3) it’s going to auction in 2 months.

The neighborhood has some of the most prohibitive zoning and strong demand, exactly the combination that leads to good absorption.

What no one is talking about it the amount of debt families are carrying right now.  

Its caused him to go in to extreme debt and he just needs to get this handled. 

The seller will have reduced debt capacity because the existing note is still calculated as a debt - they MAY be able to include an offset equal to the buyer payments after a period of time, BUT often the seller is surprised to find they can not qualify to purchase another property3.

Taking bonus depreciation early is a tax deferral, not a tax savings.Recapture is real and debt must be repaid!

Lesson I learned was finding a good tenant and getting the prospective tenants fully vetted with their income and debt to make sure they can afford my rent.

I like the fact that you combine your target avatar to your investment target.