Drive the areas on sunny days and when its raining to see what areas flood or have water problems. 2.

If he doesn't show up, we get a judgement by default (we will definitely be there).

So our money can be tied up until that hearing just to find out the owner filed a bogus bankruptcy 1 hr before the sale which invalidates it, or they file a motion to fight the validity of the judgement and then we wait another 3 months for the bank to fight that.

Also, if you have a lot of equity on your properties and you put it under LLC, in case a judgement, the creditor is going to take all the properties along with all the equity.Also it is very easy for a good attorney to pierce corporate veil.

The main thing during pre-approval on a DSCR loan we would look at would be credit to ensure it meets our criteria and there aren't any concerns such as recent foreclosure or judgements or tax liens.

Purchase money Deeds of trust the bank could not get a deficiency judgement against the borrower in the event of a foreclosure.. 

You are thinking this is a problem with a leak with freshwater but this time of year basements often flood because of spring rains/snow melting etc....so could be coming in the from walls, up from the drain tile, not likely to be coming from the sewer if it isn't sewer water but that can't be ruled out either. 

Simply bolted onto concrete flooring with no foundation perimeter to address water intrusion issues when it rains.

On top of that we will get a judgement for money owed.

Was this poor judgement on my part?