I agree with Flipper about spraying on a knockdown finish on the paneling.

although a primary residence isn't an 'investment', analyze it as such if you are deciding you might put money there.i have a decent chunk of reserves saved up, but if i had your liquidity i would look for much better returns w/that chunk.

The judge in the case will declare that your business is, in fact, a sole-proprietorship and make your assets available to liquidation in judgement.The thing to protect your assets in that case isn't a LLC or Corp, but LIABILITY INSURANCE.

A home and the debt is not included.A BK where a borrower is freed of their debts and the assets are liquidates is a different alternative.Lenders are allowed to restructure loans with a borrower.

Also wanted to add that if you do not have the staying power to weather a storm when things do not go as planned then real estate investing might not be the right thing for you.Unlike stocks, real estate is not a liquid asset.

So is it a viable way to go about it or would liquidating it and purchasing cheaper rental properties (that still would neg cash flow) be more preferred?

Any other assets I have are tied up and can’t be liquidated easily and definitely wouldn’t cover our retirement.I do have the option of borrowing from a hard money lender, but truthfully I would rather not go there until I can prove to them and myself that I can do this.

(Realtor Associate)Land Rescue League LLC, Managing-Director (Property Liquidators)As Trustee for: The Renaissance Trust DAT 8/25/01

I was planning on contacting some of the owners in order to see if they are looking to sell or work out some sort of deal.Unfortunately for me this is coming at one of the worst times as I am about to have the majority of my liquid assets tied up in a purchase that is in the process to close….taking forever going on 4 months since the initial offer.Besides the aforementioned research I have approached my banks to see if I may be able to apply for a general pre-approval for a maximum amount so that if I was to jump on a deal I could get the financing hammered out in the time before final payment is due (waiting for a call back).

Long story short he owns the neighborhood and he is looking to liquidate these properties from his portfolio.