In the case of this property, you are probably on the edge of serious financial peril unless the area is rapidly appreciating and you can swap some short term high-level risk for longer term capital gains.

Because they bought credit default swaps...so they were hoping that the assets would fail.

Perhaps we can swap notes on this?

I've been meaning to swap a unit to stacked washer/dryer.

If leaking, swap with higher quality that use metal guts, not plastic.If nothing else, perhaps you'll find this of some entertainment value: https://www.biggerpockets.com/blogs/7413/46957-the-poop-on-poopers-not-all-toilets-are-created-equal

The toe kick - the panel you see in front - that is easy to just swap out and paint.

My brokerage charges interest of 1.65% on loans over 200k and 1.21% interest on loans over 1.5M and get this, a whopping .97% interest on loans beyond 3.5M, :)Your local bank might be using investment-oriented brokerage account to do a cash as collateral swap.

That might mean you might need it swapped in 2 years, maybe it will make it 12 years.  

I didn't swap it over immediately, but I discussed it with the title attorney at closing with our banker in the room and told them that was my intention.

But, so long as they AGREE to you swapping it into an investment property after just a few months - then sure, we won't need to warn you of the words: "mortgage fraud"!