I think it was Warren Buffet who said when asked about his losses and responded with something like "it's only on paper".

I hear massive dumps will be ocurring, then nothing.

We have maintenance install the washer and dryers so they are hooked up correctly.We use teflon tape,the steel braided hoses wit the high quality washers on the inside.Where the discharge hose goes into the drain we install a strap to the wall so the discharge hose won't fall out when draining and leak.Even given all that if they have an old washer it can give out and water can be released.The simple fix is a drain pan under the washer with a pipe that ties into the discharge pipe in the wall.All of this will cost about 40 bucks or so not including labor.Well worth it than cleaning up a huge leak causing massive damage.We also check the hot and cold water valves the supply lines hook into from the washer.The valves might be gone and partially leaking.Also if the tenant installs the washer and dryer they might over tighten fittings causing bent pipes and damage or under tighten having leaks.Been my experience with over 20 units on a 30 year old building.

In the event there is massive deflation he would simply walk away from the loans and/or offer to deed the properties back to the owners.

Any major work like boilers or massive apartment cleanout gets charged additionally.

Rich...Florida is also ground zero for a massive over supply of condos.

I can see values dropping a bunch but for the cash flow rent rates to drop by 40% something drastic had to happen in the area.Either your property was in nice shape and now it is trashed and instead of pouring more money in you have reduced rents over time OR the area has been hit with massive foreclosures and new purchasers reduced rental rates to rent up fast.I like the idea of the local investor to take it on.I never buy 2/2's unless it's apartment buildings.For resale 2/2's are really hard and do not hold value as well as 3/2's.Some areas it might make sense but not for me.

I may be wrong here, but perhaps Buffet & company write the donation off at it's "market" value of $100,000 and the administration throws in some other tax breaks to them as well?

New casinos seem to popping up across the country and instead of just gambling they are massive entertainment, dining, and retail centers.

--> My thinking behind this is at some point in time Warren Buffet and Bill Gates didn't have to keep being a guarantor.. right??