Personally, I would go with the lower down-payment because it allows you to use that $7,600 to get into subsequent properties faster.  

There *is* loss on your end -- your time.And there is loss on his end -- his money.If the subsequent projects succeed, you recoup some of your loss (payment for your time) and he recoups some of his loss (profit on the subsequent jobs).In my other business I bill my work out at $400 a day.

If you're say commercial as in a 6 unit apt building it's pretty much the same.If you're talking about commercial as in offices, retail or other business enterprises, it's the same thing, as you need to understand the issues and risks of the business renting.If you have no no business expierence, you don't know the difference between a retail operations and the risks of various businesses, you can not assess the ability of your tenant to pay the lease.

The combination of your VA to make the purchase combined with a section 221 loan to refurbish could-theatrically-put your real estate investment program where you want it to be.Lee Russell: CLeeR Enterprises: Amarillo, Tx. 806-316-8642

Whether it's the 1st or some other third party, doesn't the 2nd and subsequent ones still get wiped out?

I have a 4-plex on churn creek (further south by Enterprise area, which is a less desirable location than what you've got and attracts the corresponding folks), but i've noticed that it really takes a lot of time and a lot of screening to find tenants that aren't a bit sketchy.

Here's how title insurance works: Title insurer goes back to last insured transfer and identifies all subsequent transfers as exceptions to title, up to the point of time of your intended sale or mortgage loan.

Once you create the first offer, subsequent offers shouldn't take more than a couple minutes each.

;)This is totally up to you, as I have heard lots of landlords on both sides of this issue.Personally, we allow each tenant one time of paying late without a late fee (as long as they pay within the Notice to Pay or Quit time period), make it clear this is a one time only deal, then come down on them swift and hard for any subsequent late payments.

In this situation it appears that Vesta bought the lien and subsequently acquired the property.