Pulled a permit and had the inspector come out, he was in the house for no more than 5 seconds and walked out saying he can't inspect it.I called the building department office and came to the conclusion that I can't do any plumbing work on the house unless I live in it, and by law I can't live in a house that doesn't have a working toilet.

A contractor is no more in a limited service position than is a real estate investor.

There is no more work to be done, so the work order does not affect me in completing the house, but if I want to get it lifted I would have to re-do the basement and be at the mercy of the county.

A lender is a lender, not an owner, they are entitled to the repayment or indemnification of the loss arising from the loan, no more, no less.

If landlord pays heat, then the returns are even worse (assume 55% expenses at least in this scenario).Honestly, you should be looking for minimum 10% net yield deals in this buyer's market, regardless of how nice the area is, and preferably 12%+.For multis, you should pay no more than 50 times gross monthly rent (the "2% rule"), and preferably 40.

I know I wouldn't have been able to handle what Jeremy Burgess has gone through with section 8.http://www.urbandetroitonline.com/detroit-real-estate/episode-29-detroit-investor-tv-section-8-no-more/Detroit has truly been a gut wrenching experience for me.

We've had the "no more excuses" and "you won't get paid" conversations already.Would you kick this guy to the curb, or stick with him and hope for the best?

For next deal I would start scheduling appointment with, the VPs of small local banks with no more than 20 branches!

If he mails to a list of 1000 absentee owners it should cost him no more than $1,000 if he outsources the mailing of these letters. 

Wow that place looks great no more plum wall color.