Is it still bad?

It’s both good and bad.

I can’t image what, there was nothing that was so bad to do that. 

It seems that things work pretty smooth until something bad happens to the home, then it can turn into a "phone call" nightmare really quick, and it did.Now, we are thinking about long term renting.

Typically, they know it's bad news if they are getting certified mail, and will not sign for it as that proves that they have been informed. 

However, those reserves are often most needed in the first year and not having sufficient reserves can put a deal in a bad position and that's where additional risk is created. 

Whatever opinions you get from people here- if you consider moving forward have a knowledgeable attorney review the ppm to understand the good and bad

Hi Carmen, Sorry to hear about your bad tenant.

Peace of mind will comes from dealing with right deal and right people and right area, and not from high CoC returns. 20% CoC is not worth the headache it brings if deal or tenant or area turns out to be bad. 

Right now (Q3 2024) everything seems overbanked/overbought.Currently, my focus has been purposely broad but currently split between: A) SF business (wholesaling/rehab) I was asked to take over (on almost no notice – am still badly catching up) and B) Small balance MF and mobile/manufactured housing (<~50-100 units for physical/operational value add)I have made some progress on each but not where I would like to be although I have just recently gotten involved in the sub-institutional space again.