Just checking.I'm treating this as a project, and yes, I'll definitely learn a lot from it, which ever way it turns out in the end.

They like having you as a landlord...not as a "friend" but as a landlord.If you fix maintenance problems quickly, give them payment options they want (credit card, auto recurring payments), you treat them with dignity, and you check in to see that they're getting what they want out of the property, they'll stay.

I'm trying to think of it in a way where you can treat the option to purchase like a car lease take over agreement with an option to buy.

The MI company was Radian and they denied the short sale when the lender approved it.Call their loss mitigation department and treat them as you do any other negotiator, explain the situation and send them over your data and comparables to support your offer.What happened on my deal is that the MI company apparently approved it as long as the 1st lien was willing to take more of the loss, I am not sure about the specifics but they came to their own agreement and I was able to get the deal done.The point is be persistent and don't take no for an answer.

I've attended some IRS foreclosed auctions...and IRS seized auctions...but I missed the latest property tax auction here...I looked at the list of properties they had...nothing to shake a stick at unfortunately.I would treat a property tax foreclosure like any other foreclosure...but check to see if there is any sort of redemption period...there might not be for a property tax foreclosure but that could vary by state law.There should be an inspection period for the property...so if you are serious about one I would get your inspector out there in advance.Also, get familiar with the auction rules...and attend an auction before you actually bid on anything.

Those intangibles will also give you a good impression of how they'd treat your property.Furthermore, I do collect a $20 application fee.

As far as finding a lender who actually treats a TB excercising their option to buy as a refi, I don't know of anyone who'll still/can do that these days.Does anyone else agree with this?

That's the way the IRS will treat it, any, as an addition to your basis rather than an expense.

In previous years, top Wells Fargo loan officers were treated to performances by Cher, Jay Leno and Huey Lewis.

Have you considered treating your RE business the way you'd treat one of your system deployments?