So now 5 months later with at least 2 more to go, you are out 5 months of rent, $7,000 in legal bills (and counting-we are not even at trial at this point) and by the way, if the tenant wins their case, the insurance company probably will not cover the judgement as it is excluded in the policy.Also, if the tenant decides to call code enforcement and they find mold, now you have to remediate professionally (again not covered by insurance) and it will cost you about $15,000 or more because they have to do the whole building to kill all the mold.Oh, and by the way, the tenant called code enforcement and there is no visual mold but all this is going on anyway.So legally, you may not have to but it will cost you a lot of money when you get a tenant who can play the system.Make the attempt to fix it so you can say you did.Tom

Then it begins to play the gamble of how many months does it take for the bank to foreclose on the asset and how many months of rent can you collect in the mean time. 

This is where the refi comes  in to play.  The

Owners will often play the role of the bank if you ask them to.

Finding a partner that compliments your skill set is my favorite way to play the REI game.Lack of hustle is a handicap, not age.

Play the long game...my two cents.  

I'm not trying to play the innocent victim, we did some things wrong and have learned our lesson.

Play the roll of a tenant, and call them up.  

I don't play the appreciation game. 

It is free market at play.  The