That way, there is some type of cushion to help against any high usage months, should they just happen to use more than your previous tenants did, or if you unfortunately get tenants who abuse the "utilities included" opportunity. 

60k is definitely a hit and unfortunate for sure but it sounds like you have two opportunities to force appreciation up front and collect off the back end.

Unfortunately, I just learned it's in a flood plain.  

Here’s the context:The house appears vacant, with a large tree that has fallen on the property.From what I can see, the house seems full of furniture and might even be a hoarder home.I’ve skip-traced the property and found that the owner has unfortunately passed away.The house seems to be mortgage-free, and I’ve identified three phone numbers associated with the son, who I believe is the heir.I’d like to reach out to the son to express my interest in purchasing the property, but I want to ensure I do so respectfully while also gathering the right information.Here are my questions:What’s the best way to approach the heir while showing my condolences for their loss?

We did not know about having to file Portland also  unfortunately.

The tax treatment in such cases may vary depending on specific circumstances.

If the reason they ran out of money was due to an unforeseen circumstance and they have a path to recovering, it may make sense to send them more money.  

Unfortunately cap ex usually catches up to them and the appraised value rarely translates to a similar sale experience and all along the property has merely been a highly levered property.

You will need to provide an explanation of the circumstances surrounding the BK every time you apply for credit, apply for a job, apply for a bank account, etc.Bottom line is if you’re working day labor type jobs for small companies and live on a cash basis it might not affect anything.  

Very unfortunate as continue to see people who are providing others with money and not understanding until its too late that their money was never secured and was gone the moment they wired those funds