Whack the ones you know won't work out, before it comes to driving across town to show them the unit.

(quotes from Kevinh5) Dennis notes one particular situation where this can work out okay: “One property in an S is not that big a problem.

This sure takes the guess work out of everything.

They are not contractors so they sub contractor work out, they only do the pesticide/insecticide treatments so the rates are much higher than you can do.I see many termite reports showing some very minor drywrot damage and bids of $900 to fix it, yet it costs me less than $100 to fix it.

Owner financing will work out however you can best negotiate it.

I would find a great attorney to add to your team, if things don't work out the eviction process is different than someone renting your property.

I am not really interested in dealing with tenants and repairs so this should work out well for us.

"they owe the bank $295,000"NO according to YOU she is on title but not the mortgage.If that is true she owes NOTHING to the bank.She just has a partial ownership by title with a property that is underwater in value.Even if it forecloses she can milk some more months as a "tenant at will" before the bank can get her out.Usually they will offer "cash for keys" for her to move.This time of year with court delays for evictions it would most likely take the bank awhile to get her out.She could always try to get the husband to sign an "authorization to release" from giving her the authority to speak about the loan to her.With an underwater house most owners/tenants just care about the mortgage payment.Example house was worth 200k but now worth 130k.Mortgage payment is currently 1,600 but owner/tenant wants payment of 1,100.The bank might readjust the loan payments rather than foreclose and take a big loss.It depends on what type of loan it is and who owns it and workout options.If you bought it for cash at foreclosure then she could stay as a tenant and you have her sign a lease and she rents from you.The details will be based on a state by state basis with time lines and risks involved.She could try to buy the note at a discount or get an investor to try to purchase it on a short sale and rent to her etc.The confusing part of your statement is you said she had 150,000 cash but yet recently filed bankruptcy.Are your sure the husband didn't file bankruptcy and she received the money from the proceedings??

And, you're not in one of those turn key deals that seem to consistently work out badly.

If the "lodge house" doesn't work out in the long run, my plan is to simply rent out the entire place in the traditional sense.