If I were to buy anything once my reserves are where I want them, it would be gold to hedge against inflation, which we are already seeing in food.

Grace days are the number of days the processor holds the payment to hear back from the bank or not as to whether there are sufficient funds to cover the transaction.  

You either backbill the tenant or you start the eviction process, or both. 

So to win capital some GP's had to put out rosier and rosier stuff to get the money over the next GP and their deal and hope that markets and cap rates with debt would make it come true over time.If sponsors would have just used long term fixed rate debt that was assumable many would be absolutely golden right now and if they needed to sell there are tons of buyers for assumable debt deals.The other properties it's a kick the can down the road and see if they find food to live or croak and the property goes back to the bank and the vultures on the side wait for the right time to take their spoils.

Just food for thought from a friend who owns a larger development company...

They bring food and hats and other marketing materials.

If oven, washer, dryer go out, I would pay them some money for during the week for food to eat out or laundromat, and then fix on the weekend.As you said you're in the learning phase.

Looking to purchase one and struggling with the right calculators to determine the real metrics.As I understand it (recently looked at buying a former bnb) you need to treat it like any other STR with your extra costs such as food, etc  baked in to the expenses.

Have your agent throw a broker open (possibly with food) to get agents through and get feedback. 

His comment on costs was $4k-$6k but I have no idea what that includes and I think it was a guess having no foreclosure experience in AL.Do you have any good web sites I can read about the process or anything else not immediately obvious?