I did have a steak at M&K near Libby, MT that was outstanding.

I don't think J got to that point by trying to figure out how to turn poor contractors into outstanding ones...he stopped using the bad ones until he found good ones.

Actually my balance sheet was attached as an addendum to the Fannie Mae 1003 Loan apps the private lenders requiredsince the Money Markets/CDs/non-qualified retirement account balances barely exceeded the loans outstanding on the first four properties, I assumed the Roth and the IRA LLC balances were the reasons loans were extended on the last four SFH.

Ben Siegelbaum Thanks for your outstanding info!

The outstanding note balance is $235k and the accepted price with the note holder is $200k (84 cents on the dollar).

So you take the outstanding principal balance X 15% to get your annual interest.

At this point, the outstanding balance on the loan would be about $21,000.

They'll still be getting full asking price, but this would lower my loan amount and slightly lower my required 3.5%.I've asked the loan officer if any outstanding funds could be applied forward towards interest but was told no, I just lose that money.

If there is a surplus the tenant is given the choice to     a) apply the surplus balance toward the next month's rent;   b) leave the balance in the utilities budget in anticipation of larger utilities bills (i.e. winter is approaching); or   c) refund the balance to the tenant (this option is only available at the end of lease, if there are no other outstanding debts owed to the landlord.If there is a shortfall in the Utilities budget account - happens very infrequently as we have a pretty good handle on the operating costs of our properties and set the monthly contribution accordingly - the tenants are invoiced and the amount is due at the first of the next month.

lets say you spot a deal on the block but there is no running water, gas is shut off, electricity is off …there is no way you can check plumbing, furnace, etc ..some REOs even say “seller will not activate utilities” …I think you could activate utilities in your name …but then how about all the outstanding bills that might hit you ?!