And, if you're really lucky you might find a GC that is also an investor, expanding your network and providing a good person to bounce ideas off of. 

Bouncing payments or only being an illness or accident away from not being able to pay the rent, are issues considered by our underwriting.Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX).

It also wouldn't hurt to go to a few investor meetups as well to meet the experienced players in your market, make friends, and bounce ideas off of them. 

@Brit Hale and I built a great relationship in 2+ years of him sharing deals, trying to make something work, us bouncing ideas, and generating a solid working relationship.  

You don't stop unless the Tenant pays everything owed, in full, in one single payment, with certified funds (meaning they can't bounce or reverse the payment).I recommend you speak with an attorney because this is too much to spell out in a thread.

My initial thought was that I would hold onto the property until the market bounced back and as long as I “broke even” I would be fine.

It would be great to have a group of people to bounce ideas off of and trade knowledge with.

Account Closed how did I know when someone would send that link lol , yeah I had seen this awhile back lol I hope everything works out for the people’s involved in that situation are able to bounce back , seem like a pretty sucky situation 

Practice estimating ARV and bounce your estimates off of seasoned investors, such as agents (at your local REIA) or Hard Money lenders (some will do free deal analysis and provide feedback on properties for you).

I forget the location but something major happened there causing tons of people to move, and it's almost a ghost town.Yet many investors say the opposite of this.I guess I will need someone to bounce these off before I really make the big decision and thank you for all that info!