Purchase price: $125,000 Cash invested: $65,000 Sale price: $250,000 Wish I could have held onto it but needed the money to fund future deals What made you interested in investing in this type of deal?

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

I am proud to announce that I got another client under contract on a 4Plex here in Fairbanks Alaska. They are locked in with a 6% interest rate on a property that we went above asking price on. Currently under contrac...

I financed the acquisition of the land with personal and private money.

I make a decent amount of money nearly from my W-2 (over 100k) but still not enough to easily buy another property this year especially if I have to put down 20%.

If there weren't any issues than we would refund the money.

After that, the lender may use a private auctioneer to auction off the property and try to recoup as much money as possible.

I know it is expected that you will need to spend some money after someone moves out but I just didn't expect I was going to need to spend appx. $10k to get it rental-ready. 

If its four months from now, then explain to him he's going to be evicted, will have a record, and it will go to collections for all court costs and rent money owed, to the penny.

None really reduce the amount of money they have to come up with, but if they are broke as a joke do you really want them as your tenants?