A law degree does not mean you know anything re wraps.If worse comes to worse, you can stop the foreclosure with legal action - it costs some but you will not lose your equity.I would not throw the baby out with the bath water re doing wraps and I do hope all works out for you.Reach out if you need a referral to a good AZ attorney to helpBe careful out there guysAlan Not to be too blunt, but you are handing bullets to a six year old with a gun.

If you just want to build your cash reserves then flipping is the way but just be careful - that too takes a lot of work and research to make sure you don’t lose money.  

Trust me; you don't want to miss those crucial dates and risk losing money or even blowing the whole deal.

This is not the best way to invest in real estate as you lose out on principal pay down but it gets you instant income that you can make mostly passive by hiring out the property management.

If you lose 20% to the PM, then you still have 30~40% profit. 

I have never held a mortgage 15 years (or even 12.5 years) and I have had quite a few mortgages.I claim that it is better to have the negative cash flow and use the $450k to achieve a return in excess of the 6%.  

@Rafael Ramos All your goals contradict each other:(1) Cashflow: buy Class C & D properties2) Appreciation: buy Class A & B properties3) Low Crime: buy Class A & B properties4) Why would you want your investments to lose money to lower your taxes?

That's before you pay any debt service.To answer your question: No, it's generally not a good idea to lose a bunch of money every month.

You don't want to get a call 3 months into a project where you have lent money and hear the operator say that they ran out of money and need more money from you to finish the project or you will lose your investment.

All calculations suggest great investment for 4 bed 3 bath in good school zone, however once the tax estimator goes from $2200 to $9500 due to lose of tax credit from not being a primary residence it hard to see how to get property in SC.