Every other borrower has the right to declare bankruptcy when they find they can't repay a debt but the ones who signed a paper back when they were 19 years old.

This lawyer who has the redemption rights is suing them stating that he is redeeming the home at the $75,000 amount because he claims that he didn’t receive the improvements paper work within a 10-day window that he demanded.  

On paper I'm ready - I have the money, I've done the research, I have well-defined property/neighborhood criteriaI, I have an agent, contractor, property manager, lender, etc.I'm targeting off market deals with light value add potential in an area with high appreciation potential.

@Andrew Postell If the initial mortgage (LLC to individual) is for ~75% ARV, but initial purchase price is for much less than that, then how do I make the proper paper trail for the lender to see? 

That consult with TrueBooks or a real estate savy accountant would probably help put some estimates/numbers on paper

I am aware of that. here is an example of my question to better explain it:John has paper losses in the following 3 properties carrying over from 2023:Property A: -$100KProperty B: -$120KProperty C: -$80KTotal portfolio Loss (combined) from 2023: -$300K In 2024, John sells Property A for $500K (with no debt).

We are just starting to get into talks with local banks about buying their paper.  

I would simply have left a welcome kit for each renter that included some shelf paper, toilet paper, and a new milky white shower curtain, plus a small bag of Purina if they have a pet.

If you buy class C or D properties you are going to have way more issues than you can ever anticipate on paper.

View reportgood afternoon, I found this property in Houston, Texas which look quite nice on paper.