First, you shouldn't be giving credits...that will get you in trouble if your tenant has a half smart lawyer.Second, when I do SLO I do them out of an LLC...then I just sell the LLC.Third, based on the way you set this up (with credits), if you are able to sell your LO to someone else, you have to transfer the credits you've already collected to the new buyer.

Thank you @Mary Danna, it should appraise for about $600K when it's all said and done and it is in New Orleans, right outside of the French quarter.

You may also want to look at solutions that address the heart of the problem (better grading, french drains, etc.)

@Jason Selig Pardon my French but what kind of fool allows you to tie up his property for 21 days for a measly $100?  

@Ja'Mere L French read DGs BRRRR book!

There was an unlocked glass french door around the back so I turned the knob and pushed the door open.

A french drain was never installed near the front of the basement which thus caused some serious cracking/bowing.

I had a couple of basements done earlier this year, and I had interior perimeter french drain system installed for twice the length you have been getting quoted, price a little under $5K for the one company that did the work.

I should of asked, would it be considered predatory for a commercial bank LO to require a borrower to take on more debt than he/she was seeking as a requirement to secure a purchase of the borrowers principal residence?

Scott French I am looking at something similar in your region, I almost thought you were describing my property!