It's frustrating to finally have it all sorted out then get a notice that the mortgage has been sold again and there is a new servicing company taking over and the mess starts all over.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Worst case scenario, we sell the seasoned, performing note at a discount.

I have a pro forma  using very pessimistic occupancy/booking percentages (worst case scenarios) which identify a very nice cash on cash return, and the ARV will (again, pessimistically) be at least double the purchase+rehab costs. 

I heard the servicing company laid off most employees and transferred the loans to another servicer (in some sort of agreement).

BoA is fine for this sort of setup.. but consider a local credit union in San Diego for lower fees and simpler sub-accounts from what I’ve heard.

You need some sort of insurance that covers non-owner occupied properties, whatever it might be called.

Worst case, a very expensive clothes drier. 

"Experience is the best teacher, and the worst experiences teach the best lessons" Something like that.  

He started out clueless and he is now just doubling down with the lies in a poorly executed blackmail attempt of sorts.