If the dye test fails, then the municipality may make require the funds for the repair to be escrowed in order to give a temporary permit.

A reliable property manager and CPA are worth their weight in gold, especially when you’re managing remotely.If you’d like to chat more about what’s worked for my clients or have questions about specific markets, I’m always happy to share insights.

I'm new the notes world and frankly the 3-year locked in PPR preferred return of 12% seems almost too good to be true if they in 16 years have never missed a payment or failed to repay principal.

That is until a roof or an hvac unit fails.

Well I have seen this come into play - I had someone who has a note in florida that was a non-owner occupied loan and the lender claims the borrower failed to make payments on this and attempted to record the deed in lieu.

If you fail to follow the rules, you may open your personal assets to a lawsuit.

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?

In the end, many fail because they make a decision based on the wrong motivation. 

If that call fails, try calling again (hopefully you'll get someone more competent).