We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

One thing I will say, and do with it what you will, if you are digging out of a bad financial position I'd suggest RE is not for you now. 

My advice would be to drown out the noise you hear from others with positivity and thorough due diligence.

HOWEVER, you can still find deals that hit the 1% rule and positive cash flow.

I’m not looking for a step-by-step guide, but I know I’m not the only one in this position.

Generally if a first is going to be paid off from the second position foreclosure, then the first must be notified in the complaint and the language will not be indicative of the foreclosure being subject to the first.

That can get you some money up front to continue to build your portfolio and it takes you out of being a landloard and puts you into the position of being the bank instead. 

That means there is not really an effect on the debt to income ratio neither positive (income) or negative (loss) but rather simply making that payment  non issue. 

@Rene Hosman Generally, Reasons for Land Swaps are to: - Resolving zoning conflicts - Acquiring strategically important properties - Consolidating land holdings - Avoiding costly legal battles - Achieving public policy goalsWhen I was a Planning Commissioner projects would discuss land swaps for larger development projects to make sure the community impact was greater (typically gaining conservation land for us) than just allowing a rezone to be approved without public benefit.

I have built in the past and I do not understand how anyone can build a house for 250k that will last.As an agent I focus on high end relocation clients and many are positively surprised by the build quality compared to the south.