Contrary to popular belief, (most) ARM's were not a major contributor to the great financial disaster of the past decade.

After trying everything to accommodate her, the strategy is now:3 Day Notice of Cure Breach in the lease for inspection or Quit3 Day Notice of Pay or Quit for late peymentLease terms are defined that lease expires on 6/7/14 and there is no month to month allowance or extension permitted so she must vacate.I have 2 prospects waiting for the home that are waiting to place 2x month rent for the security deposit, $3600, plus pay $1800/mth going forward.All this said, if the current tenant has no place to move to with her family and children, I have given instructions to the attorney to accept an additional security deposit of $1000 cash, a cash payment for the remainder of the month at a 30% increase and a newly signed lease that terminates on 6/30 with no possible opportunity of extension or reversion to a month to month.Based on her broker and property management experience, as well as concern for her personal credit score which was 760, it is my belief that being served with 2 - 3 Day Notices of Default and that an attorney has been engaged, she will decide to either cure the defaults and move on 6/7, or find the cash, sign a lease for 23 days with payment and then move on the 30th.Wanted to make sure all had the details plus the facts that as a landlord I feel a responsibility to my tenants and their tenants, hence the opportunity to extend, but also that to get the opportunity they need to be held accountable.

We actually do quite well with our CA investments, contrary to popular belief.

Steve,Contrary to popular belief high caliber brokers and agents are in high demand.It's the other 90% you are left with that are mediocre.Problem is you are already saying you are getting your license so your agent will get maybe one deal from you with a low commission and that's it.If a broker/agent wants to do really well they want repeat business from a group of clients instead of a bunch of one off deals.I would got to the REIA meetings and see what you can find there.

I was familiar with the "2 out of 5 year" exemption but not this 2009 exception.I hope that some of you can reconfirm that my belief is correct - that this Exception does not apply to my situation because if it did, then that would be a bad surprise.From the article: "However, a special rule enacted in 2009 limits the $250,000/$500,000 exclusion for homeowners who initially use their home for purposes other than their principal residence, such as a rental or vacation home.

It's a crazy world out there now and things are going to get tougher, but if you are willing to let go of your beliefs and open your eyes and mind, you can find answers and solutions to these challenges we will all continue to face.

Both the belief that it's possible and the knowledge of how to do it.

I mean, some people's investment beliefs dictate that if you wouldn't live there you wouldn't buy.

Before that can happen though my beliefs are that they need to make it worthwhile for the small investor and not just the big institutional investors who are changing the landscape. 

All of our rentals in Allentown pay religiously on the due date, some by direct deposit.