It is a LOT harder to decipher THAT, and come up with some barbaric equation-simulation that extracts EVERYTHING and spits out an answer, than it is to just build a website and rank #1 and dominate... honestly.yup yup.Overlord has spoken!

If you seek the property that Dan permit full extract of investment, these are hard to find.  

I would extract myself from this situation in whatever way I need to in order to get the tenants cool and cut my losses.Then I would proceed by finding a reputable HVAC contractor who does good work at reasonable prices, but understand that good work has costs.

Value extracted via a refi can compensate for a lot of cash flow. 

$500,000 @ 6% = $30,000 in so called "earned" real estate commission to have a realtor list a property in the MLS and another realtor reading off the same Menu, bring a buyer and extract that much in Tax Free Home Equity?     

He uses it in his trade (rock extraction). 

you have to be buying low enough, so that even $15k in repairs will allow you to extract your cash back at 70-80% ltv on the refi. quadruple check your arv and make sure market conditions allow for continued trends. 

And, without a living owner, I don't see how you could buy it in pre-foreclosure subject to the existing loan.I think you'll have to wait until it comes back to the bank as an REO, assuming no one grabs it at the courthouse steps.One last idea: If it's a viable fix-and-flip, you might be able to get a cash buyer interested in bidding at auction, with you extracting a finder's fee for bringing the deal to their attention.

Anyone who wants money before evaluating your loan/deal should be avoided like the plague.If you attend COREE, seek out @Seth Hayes, at one of the outside tables, he's legit, and he can help answer some questions for you. well the lady who owns do hard money keeps getting on here saying they no longer require the 3k or 5k up front but remember your dealing with very good Utah based fulfillment companies and back end sales folks those are some of the best in the business at extracting mentor and education type monies from folks I have been to many of the fulfillment companies there.. and they are pros no doubt.. local is always best for HML.. your local HML is going to know the neighborhoods much better and not rely on some appraiser they hire .. 

I’d probably move there myself if I could get everyone uprooted.If your friend is buying at $100K to get $1,000 in rents, from one of the many large turnkey operators that are selling to AUS citizens, then I’d pass, as they’ve already extracted most of the value from the deal.