I illustrate an emergency warranting a phone call with "WATER WATER EVERYWHERE!!!"

You won't hear me knock it, regardless if I would do it myself or not.Jay, we've talked about this before but since you are clearly still concerned... my responses to people on the forums only go in as much detail as their question warrants, unless they ask for more information.

I've never really given cash for keys as landlords do since it's in the borrowers best interest, first to sell and pay me off or refi it if they can, if those options are out, then it's granting a quit claim to avoid foreclosure then to foreclosure, I have assisted in a sale allowing the borrower to walk with money or facilitated sales simply to avoid foreclosure for a warrant deed.

The plan was to use it as rental because the rental market for that should warrant $800-1000.  

Oh, that updated posted while I was typing.I have had to read this several times to try and pick off details that matter.First, there is NO condition for a borrower to guarantee or warrant the marketability of a Mortgagee's loan in the secondary.

Investors will look at things sometimes from a CAP rate to understand if the rental income warrants the price... but appraisals are based on comparable sales and will affect how much you can borrow against a property.  

The calculation is a little more involved than IRR or MIRR - you may decide the value of the metric does not warrant the mental gymnastics.

To me that message would warrant a returned call.

For what it's worth, I did take out a warrant once on a tenant who stole a couple of rugs when they left right before their eviction.  

Not legal advice, and not from MD, but in our area of NY if a former tenant remains and the warrant of eviction (similar to MD's Writ of Possession) has not been served, it wouldn't even trespassing - it would be a holdover tenant.