Since I am the money man, what happens if something falls through with the refi or we run into a money issue early on?  

We stuck about 5k in it plus my own labor and are getting $850/month rent.Last fall we got the line on 2-12 plexes side by side, and 2 more 6 plex units.

I also have the bank of mom and dad to fall back on, and, since they've been in real estate rental investment & managing properties for years, they have some capital that can assist me.

I am only tangentially involved in this but a lot of these things tend to fall on my plate eventually.

When buying a $50k old property, most things that will go wrong will fall under CapEx expenses.

So when you had these hot beds of real estate speculation and borrowers could walk with the only thing they lose is FICO score and in many cases they put nothing down.. well they just walked.. and it became like chasing a falling knife it just got bad and kept getting worse.on the investor side.. you had thousands of investors in short term notes that could not get refinanced.. and probably in your line of work syndicators and other institutional investors who were stuck and could not refi and the lenders chose to foreclose.. especially if lets say Rialto bought your little bank that went under.. they were brutal on chasing he security .

Values are falling on much of the west side of Cincinnati.

We have 3 soft maples in the back yard that shed exactly 45 billion-trillion leaves in the early fall through mid spring.

@Cory Binsfield where in the country in 2008 that property value dropped 10-15% and rent kept "raising" not falling?

Do not fall for the Nevada/Wyoming/Delaware/OtherFabulousState scam, you'll need to then register in two states and won't get the protection/savings that the salesperson promised you, because when you buy property in MA, then MA laws are the ones that matter.