On the flip side of the argument, you could try to prove you are right and dig your heels in.

Sherman Bridge Lending-User BewareFalse promises, bait and switch hidden fees and spiked interest rates.Name of their game-- keep you locked in the hard money as long as possible.I've been using Sherman Bridge for the last 3 years to acquire property.

It stinks giving money back, if that is what it comes to, but if you dig your heels in, then end up in court, then potentially lose, you will still be out the money.  

The 12-unit has been 75% renovated - though after the walk through, I would classify the renovation as lipstick and heels - the building itself is still as inefficient as when it was built 35 years ago.  

Also, remember part of the reason for demand and the price spike we are seeing so dramatically right now, is due partly in fact to builders are still not back up to speed from the crash.

Now the chart looks more like a cardiograph......huge spike followed by a huge drop.

I went to an open house last weekend to find a 2bd 1 ba SFR at a ridiculous $345,000.Gud gracious.Scratching my head, standing on the sidelines, and clicking my golden slippers for better days,TevisI'd start clicking your heels in a different area of the country.

Other cities didn't have the spikes that we had; and, their falls weren't quite as harsh.I've been asking a few of the top players in regional and national positions what their prediction was on this "down cycle."

Those evictions and property damage spikes would have to be pretty damn large to bring the ratio up to 50%.Thanks a lot for taking your time to answer my questions.

Because there is a shortage big time for rental housing.. 10 years ago only 6% of all SFR's in this market were rentals. with the big chill on the economy that probably spiked to 10 or 12% compare that with the mid west were is 40 to 55% in most markets...And then you add out of state and out of area to the mix in the mid west and its darn tough on the C properties to make them. work and they are anything but passive you will be managing your managers all the time. and one day your tenant will somehow get your phone number and call about something not working int he house and get it fixed etc etc.