I was at my local water hole the 9 months I spent there.. and saddled up to a nice guy who happened to be a used car dealer I asked him the same question how can you take that risk.His answer was classicSON  my clientele  will live here their entire life  they may drive to New Orleans once or twice in their life.. when I sell them the car I always get where their moma lives.. and if they don't pay we just drive around till we find it.. most of my clients will live work and die in a 5 mile area..

Hi BP Members,I am saddled with an independent motel property from the 90s.

The doing something you just got saddled with mediocre to bad debt and now it could keep you from owning a great property when it comes along.

Some urgent matters came up that I had to take care of but I'm back in the saddle again. :-) Thank you all for the advice.

You are now saddled with bad debt feeding the beast each month.Check your local landlord/tenant laws and see how long it takes to get a tenant out (eviction).If you want to be a residential landlord you might want to buy a vacant value add and fix it up to get rent ready ( not sale ready) and build in some equity upside.

Based on your post I have a gut feeling you will be back in the saddle and things will turn out very well for you.

I wouldn't saddle yourself with debt on a mediocre property in the hopes of something happening.

I grew up near you in Upper Saddle River.

He is lucky/good in that he has more than full ride so he won't be saddled with any part of that 1trillion plus of student debt...

The 15 year will saddle you with a higher payment.