I know this is truly trial by fire, but he has insisted working without a net is the best way to do things.

However if the seller cannot get his credit in check and align himself to buy back his property, I will simply throw it on the market.Keep in mind the original safety net is 75 percent of the value at the buy in price, this is Southern Californian RE, the price will almost never drop so drastically in that short amount of time.

That means $500/month for T&I, leaving $1500/month, net. I

In this attic there were 10 vacuum cleaners, 7 TVs, 8 mattresses, 8-10 microwaves, mountains of clothes, several bowling balls, pots and pans for 10 housholds, and several tons of other junk collected from at least 20 years of tenants.

They know its not worth what you're asking, otherwise, it would have already sold.If you can sell it, but the net is less than you owe, you may have to get a personal loan or borrow from a family member to pay back the excess.

On a rare occasion there is a valid issue.When I was a kid I touched a hot pot on the stove.

@Pat Martin Monthly net  is $1250 -$2,100/month=($15,000-$25,000) - Rent is $3,200-4,500/month . 

I wouldn't trust any ARV value from the net. I

First off, is the $2 million gross or net? I

A safety net is fine in a wealthy society.