Again, note modifications are the new extension of credit just as originating a new note, just because you own the note doesn't give you a license to originate new notes or extend credit.

A slight modification to strategy.

You NEED the float.Second issue, which actually alleviates the problem, is that God invented creative finance for a reason, and this reason is - if you have limited cash floats, keep them...and figure out how to get the property with nothing down.Interestingly, the side effect of thinking along these lines is that the process necessitates that you get better deals, and that you are much better educated - both are good :)Good Luck, Jason!

However, never done a Subject To.....just never had a case that necessitated it. 

Things such as modifications to CAs prop 13, the new CA "homeowners bill of rights", etc will give lenders reason to be cautious.

No need to mod if the borrower can make the payment. 

She says they denied her last loan modification.

Did you go in with an idea of how you wanted to modify the property based on your experience, or did the rehab modifications strictly depend on what was minimally necessary and within the budget determined by your deal analysis? 

@Mark Cios When you accept a Section 8 tenant, the housing authority will do an inspection of the property and recommend repairs or modifications you need to make to meet their standards.

Fall, winter..who knows.i used to rent in chelsea when my company paid for it a studio for over 2k, it was about 200sqft, couldnt fit on the toilet without my head touching the door (it was slanted to fit into the apartment). i started buying in NJ, Hudson county condos and 2 families in 2016 when all my friends thought its a joke to move to jersey. what others said, esp in NYC, luckily the shift is now necessitated, due to millenials trying to afford some place to live (cant do it in Manhattan, even a studio is 400k), and covid makes them want more space, maybe a backyard?