They're very different thankfully so it feels like there's always at least one who's acting like a normal human being...A defeasance is something that happens on commercial properties when a securitized loan (like a CMBS [commercial mortgage-backed security] or agency loan) needs to be paid off early, either when you're refinancing or selling your property that has a loan on it.

If the price was right on Turn-key maybe, but probably more of the fixer-upper that can be leveraged later on for additional property or sold for a nice profit. 

I currently live in Phoenix, AZ but I'm looking to purchase land and put two prefab homes on it with my business partner.

I am changing the locks over on all of my units at each turnover.

Quote from @Kedric Naylor: Quote from @Lateefah Mathews: @Kedric Naylor Congrats on closing your first property and being lined up for your second...that’s huge!

@Lucy Ahl do one of you guys have a LLC that can close on the house with the funding?

There is a great group of members on here to connect with.

Im a firm believer in purchasing rentals.

NOI divided by purchase price gives you cap rate. 

I own a couple vacant lots and looking to purchase more in a small area. 2/1s in Memphis, as far as I know, are as desirable as in a bigger market.