She may me a nice person, great employee, perfect family member, and deserving of many platitudes, but she is a freaking lousy tenant!

@Joshua Lanzieri when renovating older properties there are almost always negative surprises.Go watch any HGTV renovation show and most of them will have this as a cliff-hanger, forcing the choice of either going over budget or cutting back elsewhere.10% overruns happen often, but 50% is NOT acceptable!

IMO it is perfectly acceptable to throw a couple grand from a strong W2 as a temporary plan B into the mix - as long as the portfolio is small that will go a long way in an emergency.

An experienced broker with lots of choices at the palm of their hand is probably the best bet.

That said, if everything goes perfectly with no issues, changes, or questions, my main gripe is that it takes a week to get my money in my account. 

You have three choices...transfer the property and keep the loan in tact hoping they won't trigger due on sale, refinance into a loan that allows it, or simply leave things as they are. 

So now they start doing things to scratch that itch, and it starts unraveling the "perfect" Sub2 deal. 

This deal aligned perfectly with my strategy to build equity and cash flow while leveraging hard money financing and refinance opportunities.

It hasn't been perfect but overall I'm happy with my currently 8 door portfolio there.

If there is a choice to be made, it comes down to what an investor "likes" or prefers about one over the other?