Since the taxes are unpaid, it is likely the property is paid off, unless he has a lender/loan servicer that is just being lazy and allowing unpaid taxes and fees to accrue.

We are on a shoestring right now, we have spent all of the money we are able to on necessary upgrades and furnishings etc, and given the tax/insurance/electric/gas/cable and wifi bills that are going to be due on the regular there isn't time or money to upgrade kitchen or furnishings, we were hoping that maybe we could accrue enough of a surplus that come spring we might tackle a kitchen reno or other such projects, but at this point I am not holding my breath.I will look at our prices compared to other similar properties, I had been under the impression that we were priced lower, however it seems I am mistaken given the feedback here.

How interest accrues (typically it is simple interest per year)4.

Please note any unpaid preferred return will be accrued:Senior debtholderRepayment of capital and any accrued returns to meet the 9.0% preferred returnAt sale investors will receive their pro-rata share of 25.0% of the remaining profits

All ARMs are tied to indexes.adjustment dateThe date the interest rate changes on an adjustable-rate mortgage.amortizationThe loan payment consists of a portion which will be applied to pay the accruing interest on a loan, with the remainder being applied to the principal.

Property taxes accruing.

In the past, I have adjusted the due date, set up 1099 type tenants on a quarterly payment schedule, requested (and received) 2-3 months rent in advance, sold the property via lease/option, etc.I get that the norm is rent due by the 1st, late fee accrues on the 6th, but this tenant's situation apparently doesn't fall into the normal category, so ask the question, then evaluate whether you can live with (and accommodate) the answer.Good luck!

Likely, they accrue and are released at sale.Your best bet for calculating how much money you will make above the preferred return is based on the projections offered during the due diligence period.

Also how much should you over estimate on every project for unforseen issues that may accrue?

Just make sure you pay it off before interest accrues (again affects dti, but minimally).