If there was extra land I could parcel out or demo the building and construct a higher density or sell the land to a developer for a fat profit then the building breaking even wouldn't bother me as much.Because the value wouldn't be tied to just the building bit more so the land that it sits on.Also if the rents were under market and you had deferred maintenance that would come in as far as value plays.I don't just look at a property from an income stand point.There are many angles to look at it from where it might make sense.

We, and our owners, aren't worried about $15, but tenants really do feel like we are greedy fat cats when you do that crap.

Really enjoyed the most recent podcast with Fat Tony.

Once I move out of the one I'm in now I will rent it out and once it is fat enough I think I might sell it. 

You may find some properties in the NW Cape but even then it's tough sledding for under $150K.Challenge accepted, 426 sw 44th ter :)Looking at this in more detail I think you are on target though, should be a fat, well deserved paycheck.

If the deal is fat enough and packaged properly, you won't have any problems finding money.Also, like Levi says, you need a narrow, but deep approach to marketing (not a bunch of superficial trials), then, continue to optimize the same approach. 

These are 12-18% lenders, with nice fat points.

It's also been well established in lending that Asian borrowers tend to live on much less than us fat, must have it now type Americans, savings is generally higher, just saying, don't apply your personal expectations as to your life style on others, stay neutral and see what their life style is through general conversation.I'm not trying to push you toward accepting these folks but skimming the top with ratios and assumptions may lead to losing very good tenants.Those pets probably won't cost a hundred bucks, my two monster dogs were only a hundred bucks.Again, how long is this situation reasonably expected to exist of relying only on the royalty income?

@Bill F. at the end of they day, setting your goal is setting your goal. 

Plus the 4 months to foreclose in CA means the soonest you could recover your collateral, the collateral with a big fat (most likely foreclosing) senior lien, is 8 months.