BTW, the EPLS is an administrative action, not a judicial action, (not saying you won't end up in court either), while you will be notified of a hearing I have never heard of any average Joe winning, a few big fish, but we don't have those here regardless of the boasting, if HUD nails you, save yourself some time and money and start filling out job applications.

I think you hit one nail on the head that I had to do also: just get a deal done.

I had conversations with the buyer for over a couple weeks prior to his offers so I had a good idea of what he wanted/needed but the 3 offers helped me nail it down.

(They were into goth, black hair and nails, tatts, etc, but GREAT TENANTS... picture of them with grandma on the wall :)   I had to consider the month or more rents lost if they left.. they leave end of month, i can't do a turnaround in less than a week or two, so by the time i advertise and get a new occupant, 30 unpaid days blew by. 

While our property management company does inspections and our inspections match a home inspectors list by over 80% or more, @Troy Fisher hit the nail on the head.

The best way to understand an appraisal is look at one and ask questions.You'll also see there are three approaches, the market described above, the income approach, based on income potential of the subject and the replacement approach, what it would cost to build the subject and then depreciate the improvements based on age and condition.It's an art as much of a science, don't expect to nail a value on a subject, your goal is to get close. :)

I'd not say an investor has less recourse than a HML, a partnership agreement can nail the feet down of an investor far beyond the rights of any lender, the subject of another recent post.

If Josh doesn't nail them, I will and I may in addition to Josh.

Jonathan, you really hit the nail on the head when you stated that this is a balancing act and that we want to take action to learn but that for now the action should be studying and networking as much as possible.

I have helped him over the years with the hammer and nail stuff and occasionally with collecting rent and dealing with problem tenants.