I have had one tenant burn out a ceiling fan because it was so dusty that when it was cleaned enough dirt went in the motor to stop it from working.We use Home Depot life time warantee paint so if a tenant puts holes in our walls it's a 25 dollar fee per hole and if it's scratched or dirty they are charged regardless of how old the paint is because it's warranted as long as I own the home and it's not damaged. ( The tenants are told to hang items on the wall with Command strips ) I use them in my own home and they work well.Our laminate floors carry a lifetime warantee as well so if there is wear or damage from not caring for it the tenant is buying a new floor.

Sometimes it is best to move on.In my opinion, being late a couple of days is not enough to warrant any actions against them.

They have not been in place long enough to warrant any special considerations.

So, I hope nobody here takes personal offense at anything I say (unless it's warranted, of course :D).In my mind, not listing variable costs in the analysis is akin to the following:You walk into a hotel chain you've never stayed at before, get a room quoted at $100/night plus taxes.

Assuming I have MLS access for the subject property:To get an idea of ballpark value (within 5%) to determine whether or not the property warrants further consideration: About 90 seconds.To be very confident of my value (within 2%): About 7-8 minutes.Bear in mind, I only know two counties and only very specific pockets of those two counties.

If the project doesn't meet lender's requirements, the project becomes "non-warrantable" and the units become very difficult get get loans for.

The fact that he wants money fast and quit claim should say it all.If he only wants to warrant for the time he owned it in most states you can use a limited warranty deed.Anything before he owned it would not be guaranteed by him.Even if the seller did guarantee for a limited time he might not have the resources to pay when you go after him.As stated bank assets just don't DISAPPEAR.They are owned by the FDIC,in a RMBS,CMBS,sold off to another bank etc.

Does it prevent someone from excercising a claim even though they apparently have no ownership at the time but if something should appear they have lost the right because they gave it to you like in a quit claim deed, or does it infere you have some ownership interest, or does it warrant that you have no interest?

BTW @john if my assessment goes up and its warranted...i wont be too upset!

You can ask if the complex is warranted and approved with Fannie/Freddie for finance, typically the management knows.