There has to be a different expense model (excluding mortgage) for such a property when comparing it to a nicer neighborhood (with less turnover, less damage, etc).

Can't some debts be voluntarily be excluded in Chapter 7 if the holder of the debt would rather keep getting payments?

Never use a QCD when buying, use a Special Warranty Deed and have the seller exclude those issues he does not to warrant.

I have a feeling the guy is just trying to low ball me into making no money off of this deal, or he may be telling the truth.This is a wholesale dealARV = 34,500 (at least it's what I see in recent comps excluding tax sales)House under contract for $14,000Repairs = Less than $1000.

I can see why actuals would be excluded as they aren't every year expenses, but some fraction of them should be... thus the 50% rule people use... generally sets something like 10% of rents for those big ticket items that won't happen every year but do happen.

Great forum discussions here.... I read several relevant threads but my question focuses on how to split between land and building value in a high rise condo for depreciation purposes.

I purchased the condo 10 years ...

I can loan money to my brother to buy a car, it's not a bond and such a loan to immediate family members are excluded from any lending regulation I can think of.

Monthly income: $4,600 (again, my wife and I will be living in one of the units)Mortgage payment: $6,480 (excluding PMI payments)If I apply the 50% rule of thumb:Monthly income: $4,600Monthly expenses: $3,450 (I assume I would take 50% of all 3 units and not 50% of the 2 units I'll be renting out)Mortgage payment: $6,480 (excluding PMI payments)Monthly cash flow: -$5,330 (and that's assuming at 100% occupancy rate)So that's a terrible investment, right?

SAFE act excluded, you may transfer up to 5 titles FROM your name/business in a single year in Virginia before obtaining/needing a license.

Valuations through their BPO's, like anyone else can be problematic if they're excluding REO's and short sales as comp's, which some are doing.