That is not a defense, but people learn better through experience and that is being taken advantage of.  

If we bite off people’s heads when they admit disaster, it suppresses legitimate issues with these techniques.Just for context there is a lot of history with the OP and some of us on here going back years (like the thread I linked to above from about a year ago and several others if you use the search function with his name) with him minimizing the risks of how he was structuring these transactions and some of us being cautionary, warning him that exactly what happened here could happen, which made him defensive and dismissive. 

James, thank you for your feedback.

Quote from @James Hamling: Quote from @Jake Andronico: @Alex HallCan you not assume the loan? 

., @James Hamling, @Jordan Moorhead, and @Russell Brazil.

I've also heard it can be a good thing to have some debt against a property because if any issues arise legally, the bank will be the first line of defense. 

@James Hamling I agree things are scary until you find a solution. 

Hi James, I'm in your neck of woods a bit down south in St.

Quote from @Joe Villeneuve: Quote from @James Hamling: @Victor Tofilski I can't tell you exactly why it hasn't leased yet but I can pick it apart and give you detailed road map of every deficiency I notice and how to correct. 

Great job James, cheers!