Talk to a lawyer and lay all of your cards on the table.

By the time I finish all the work on the property, it's already under contract and on the way to the closing table (minimal holding cost, or none whatsoever).There's a lot of competition out there.

Make no bones about it, this is being watched by other legislators (maybe from your state) and with the cumulative issues that exist in the real estate market/industry today (not to mention all the bashing in the media and growing public disdain), this could just take on a life of its own and spread like wild fire (to other state platforms)...Some of you might be reading this and say, "Scott's a lender and this is a self serving crusade from a self-important blowhard who sits at a table for one

That would get you out of it without having to bring money to the table or spending money on the repairs.

A rental property, on the other hand, can end up losing you several hundred dollars each and every month, and then require you to bring cash to the closing table to get rid of it.I'm one of those folks who would never invest in something I've not seen.

Hence the IRS has a bit of extra protection compared to other junior liens if and only if they want to bring cash to the table and redeem the property.John Corey

There will most likely be very few investors willing to do stated and no-doc loans, and if they do they will probably only be 80% LTV.So, again in short, be prepared to come to the table with some money down, just like it was 10 years ago.

Because the fee you want to collect the lender sees as more money on the table that they should be receiving.

Caution needs to be applied here as the subtle differences matter and would also be the value add you bring to the table when talking to the borrower.Note that to negotiate with a lender on behalf of the borrower you need to have the borrower's approval in a form that the lender will recognize.

Even if there is some gray about the lien being enforceable its presence could bring the others to the table for a settlement.Note the person blew it and the bill for their education has not been determined.