Yeah I had the same problem a few years ago when my credit took a big hit.

This wasn't a problem as that's our standard operating plan but something to keep in mind.As Bill said the business plan for a real estate investment is a simple document.

That is no problem as long as you keep up on your maintenance.

Michael W. my opinions only...1) You went out of your way to handle the initial problem as best you could, made it about the tenants and not just your building, and showed genuine concern for the people who rely on you for housing.

It's rather quirky, so I'm wondering if that may be contributing to the problem as well.

We dodged an expensive problem a little more than a year ago when an ESA on a multi-family brought to light two abandoned USTs (~1000 USG each), both of which likely still had residue oil in them {unless they had rusted through and leaked}.

It's in extremely rough condition, but could be a decent cash-flow property if done correctly.The problem as I see it that the property currently has 4300 in back taxes.The lady selling the property now is listed as the owner on the auditor's website, but says she never transfered the deed into her name and didn't knwo there was back taxes when she bought it, and didn't pay taxes on the property while she attempted to repair it.I'm not sure how this situation goes forward.

Fast forward 2 months later still waiting- no problem as I have other rehabs going and other short sales under contract waiting for approval- I hear the seller wants to no longer sell- no reason provided- they want to wait till it goes to foreclosure- they refuse to sign anything or work towards getting the second trust released or negotiated.

Not a problem. As

A snake in the grass is not a problem as long as you know that it's there.I don't think they'll come out smelling like roses either.