Not to hijack this thread, but I wanted to ask how a deed in lieu of foreclosure would work in a non judicial state.If borrower agreed to this would the lender be able to get possession of the property back quicker than a mortgage that did not have this provision?

@Angela YanI couldn’t find a bank that would give me 70-75% of the appraised price sooner than one year so I’m waiting Many will do it quicker and there’s a caveat ; they only give you 70-75% of the purchase price you paid .. not the appraisal price

And of course invest some of it back into your wholesale business that will allow deals to come to you quicker. 

Be sure to post your resolution and how it all plays out!

Depending on the situation that might be a quicker and easier than ripping it out and certainly cheaper than covering it with drywall.

I was thinking (originally) that a 15 yr note would be best , if the numbers worked out, to pay it down quicker.

I know he has a book but I haven’t read it .Starting with 100k cash and ending up with millions in 30 years would not be too difficult even with passive investments especially if you are reinvesting or letting it compound .Something more active like flipping or doing value add deals and then selling them of course could get one there a lot quicker .

Here in upstate NY it is NOT a local custom to expect central AC, and window ACs are typically purchased by the tenant if needed to adjust the interior climate to their liking.Another thing you can do before you run out and buy your AC units, is ask the tenants what they think would be a fair resolution. 

If you are buying a rental in which a few drawers are damaged or missing but the rest of the cabinets are in good shape you can have a local customer cabinet maker recreate to match what you have thus saving you from having to demo the whole kitchen.Its always best to find in stock cabinets for quicker turn around but if you are doing a high end property as flip best to get designed with a custom cabinet maker or someplace like 1800 cabinets. 

You have no control over it and may increase quicker of a rate than your rent increases.