Unless all the housing is identical.

I speculate he or she will be more vigilant about maintaining credit due to working so long and hard to repair his or her credit damage: Versus simply getting a quick fix from a credit repair company (if there even is such a thing as a quick fix) I am not referring to the minority credit repair case; divorce, identity theft victims, etc...

It is amazing how such a small thing can change the perception/identity of the property.  

There square measure some websites that conjointly enable you to advertise your business set up and so suit you up with an identical capitalist.

This is damn near identical to how Obama was able to come in and win the election, when everyone knew that ANY democrat with a pulse was going to win because they weren't Bush, or guilty by association a Republican.

@Chris Martell, If Bk were not an option I guess his only other choice would be to skip town and start over under an assumed identity.

They have pets (allowed by me, although if I had two identical applicants I’d choose the ones without pets).

Non-updated properties nearly identical are selling for 130k right next door (cookie cutter house neighborhood)- My friend would get reimbursed for his mortgage payoff, the rehab loan, plus $15k (this number hasn't been officially determined yet, but 15k would be the upper end of what he gets)- I would get any remaining money from the cash out plus be left with the rental property. - Should be a win-win: he offloads his property with no work and I get a rental for the work I do (all of it I'll do myself) Property numbers: Mortgage balance: $62kARV: 130kCash out 75% = $97,500Expected Rehab: 15kPay friend total of $92,000 = 62k(mortgage payoff) + 15k (rehab) + 15k (cash)Remainder for me: $5,500--------------------------Rental numbers: - Current Rent: $995/month- Monthly Property Tax: $151 (from auditor's website)- Insurance: $65- Vacancy: 8% = $80- CapEx + Maintenance = 10% = $100- Mortgage (5% , 30yr) = $529Cash Flow = $70 (I was away from my spreadsheet when I posted initially, so I was off on cash flow value)-------------------------------Another option my friend is open to is flipping the property and just selling it after the work and splitting the profit 50/50.

In Virginia a transfer to a trustee is only exempt if the grantor and beneficiary of the trust are identical (that doesn't appear to be the case here).

The rules and exclusions on bankruptcy are usually identical to the rules involving asset protection.