Knowing the seller's circumstances is very important as well.I also like to keep in mind my goal for investing in the property.

If you are in this business long enough you will undoubtedly arrive at situations where taking the small loss even if not fair or warranted based on the circumstances is best if it keeps everything moving and avoids more costly delays, liability and inconveniences.In this case, if you withhold the $2K, you still have to find someone to complete the work to your satisfaction.

I’m fully prepared that there may be unforeseen costs, but I can’t even estimate properly for your standard cosmetic rehab… have you walked through the property?

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.

I am not the one making the payments, but it's still on my credit report.My limited income, combined with being a co-signer on the loan, results in a less-than-ideal DTI ratio.Under these circumstances, what type of loan or lender should I focus on?

Hi Guenevere-You have $23K liquid and wonder if that is enough to start investing in OH with section 8 rentals and you are a full time property manager out of State.I would recommend having twice your downpayment in cash or equivalents, like a line of credit, for repairs and unforeseen expenses as a minimum.You want to have as much reserves as possible and agree with your focus on Section 8.To Your Success!

One thing you generally cannot do is charge their rent based on the fact that you MIGHT have rented it out sooner if not for these circumstances.

Because of special circumstances I have one property I self manage.

I forgave a tenant of a certain circumstance, and I treat my contractor's crew to lunch when they are working on my property.In the future, show some professional courtesy and class by contacting a poster or BP directly if you think a post contains something "eerie" or nefarious. 

Given these circumstances, I believe there may be grounds for a class action lawsuit against these companies, and their owners.