Then I will read J Scott's book when it arrives tomorrow.

Wait for the FC FC and defaults in 6-12 months.Just got a tenant in so im going to sit on it for one year, not sure how the oil price going down would affect adding leverage here, we were not hit hard by the real estate crash that happened years ago, so my goal is to sell this property in a year and buy 2 properties, 1 being a flip and the other being a buy and hold

The Financial reits are immune to the crashing commodity prices we are seeing today, mortgages are secured and much healthier today due to rising property values than they were during our last mortgage melt down 8 years ago.

across clients i see a growing trend here in socal to post 3 days notice to pay or quit as early as the day after the rent is due, which is likely due to the currently crashing economy as well as since california law stipulates that the Notice cannot reflect any late fees, it makes sense to do just that from now on to start the ball (3 days rolling) towards UD. 

Assuming you did adequate screening then your task is to be sure you are establishing a strong system of reminders so when the 1st of the month arrives there is a clear expectation of rent being paid first.  

We were then scared by the crash.  

AHRN/homes.mil, free housing safety inspections, paperwork/leases/Addendums/PM tools)- financial comparison of buying vs renting throughout one's military career- buying the right primary residence with VA loan when you arrive at a new base- negative aspects of the VA loan and determining if other financing is more beneficial- tips, guidelines, and processes for managing you properties remotely- setting up the right team/network while you live there to make remote management easier when you PCSThe reality is that it will be a slower process for a military member to build a RE portfolio due to mission requirements, but it is definitely possible.

I don't know squat about NY RE, but it sounds like these sellers are trying to exclude folks using HML, and look for only a) All cash buyers or b) HELOC buyers.If you want to play in this arena, and that is what is going down, I'd suggest opening a HELOC on some other property you own with the highest maximum credit line that your equity position will allow but a $0 current balance.Offer accepted, max out the HELOC, funds arrive next day, show proof to seller.Then you would use the HML to pay off the HELOC a few weeks later, if you'd prefer that the debt be secured by the subject property.

.•(1344 finished sq feet. 3 bed/2 ba unfinished basement, 2 car)•He obviously cleaned the house fairly deeply for my arrival.

I will be listening out for you when you arrive in Ca.