The PM also created a very high turnover with subsequent damages because of poor tenant screening.

On the other end of the development spectrum, I met with JK at Storybook Realty.They offer a hybrid turnkey business model whereby the investor purchases the property up front and they will manage the required upgrades and subsequent property management.

The VA funding fee or VAFF is 1.5% if you put down 5% or more and 1.25% VAFF if you put down 10% or more down payment but typically its 2.15% for first use or 3.30% for subsequent use with 0% down.VA also requires primary residence so if employment and all documentation points to TX and they dont have any relocation papers VA may not be used unless primary residency can be documented.10% down is min for conventional financing on a 2nd home. 

You can read a little about it here:http://m.thelocal.it/20141204/american-dies-of-car...Daniel subsequently posted to our facebook group in an effort to raise awareness of the dangers of carbon monoxide. 

Partially rehabbed and subsequently abandoned.  

Doing our first (and hopefully subsequent) deals!

I have subsequently reviewed the CLASS A, B, C terms.

Given our experience we have chosen to leverage this experience and focus on Philadelphia investments, I am familiar with the areas targeted as I had lived in Philly for a period of time for school, and the cost of entry is within our tolerance for risk.Our long-view is to pivot to Rehab/Hold, and New Construction, strategies…our preference are Rehab/Hold properties within close proximity to existing vacant lots where we can subsequently add new inventory, contiguous lots preferred.

.; whether we’ll go over the cliff, whether there will be a subsequent recession, or its strength.

isn't realistic.Of course, the bank could use your offer to define a higher value for the property and subsequently not accept the lower offer based on the value, but that's completely different than the bank accepting your offer for the seller.