Please correct me if I am wrong on my interpretation of how Sterling works.Thanks!

Learning to analyze and interpret the info on a credit report, in conjunction with the information obtained on the prospect's application and other supporting documentation is the BEST opportunity you have to select a good tenant, in ANY price range.

John, One thing a lifetime in big iron has taught me is that numbers never lie....but they can sure be twisted and baffling, often times subject to perspective, interpretation and even distortion ( try politics ).Here are some more:Actual Foreclosures, or more correctly REO's ( pre-foreclosures not included ) are running at 130,000 a month.

If that is true you, homeowner buys back at 417K, and you invested 426k.I doubt I interpreted everything correctly so if you could be a little more clear.

It would take new law or creative interpretation of existing law to make it illegal (which would call into question all business relationships).

Once all the steps have been followed properly, don't hesitate to initiate the foreclosure.Certainly it is possible that even doing so, the homeowner may challenge their actions, and a State court could interpret things differently.

As a treacher, here is the problem/question: in order to coach you properly I have to make sure that you have all of the missing pieces filled in and also that you hae interpreted the information you found correctly.

Investors have to do the right thing… And don’t do things that can be interpreted in another way.

This last part is obviously open to interpretation.

GeorgeFirst, the 50% rule is NOT an accounting function nor is it anything other than a rule of thumb...That said, the way I interpret and use the rule of thumb -- and most investors I know would agreed -- is as follows:"On average, across a large number of units, a long time period and a large geographic sample, somewhere around 50% of gross income will be used for operating expenses, vacancy/rent loss and CapEx."