Understand that conventional and govt loans are very conservative when it comes to rental income/investment properties, and lately, even calculating personal income has gotten more conservative.

When is rent considered late, on the 3rd or the 5th?

Lately I have seen a lot of value cuts, so also plan on the conservative side.

In fact there is absolutely nothing wrong with the above described technique as long as it's fully disclosed and UNDERSTOOD by all parties.John is "disgraced" because he got involved as front man with a Salt Lake City real estate marketing firm that promoted John all over late Nate TV back around 1998 - 2003.  

Go there at 6pm on a nice Friday afternoon and see what it's like too. 

And 1 of the co-signers has been late on his mortgage (2 times last year). 

Good Afternoon BP's,I'm about to throw a hypothetical scenario at you guys, and please let me know what you think. 

So that is more a way you can still lose the house, even though you thought you bought it.We have had an owner declare bankruptcy on the day of the sale, but the sale went through due to the late filing.  

The well guys are running 3 to 5 months out lately too.Its a puzzle game no doubt. 

But then again, I'm just sick and tired of the smell of weed coming out of my apartments, as it is so very closely related to late rent and other habitual-loser shenanigans.