Just out of curiosity: If its a house hack, would you still have a property manager for the other unit or would you be managing that yourself?

Out of curiosity if you've had success with apartments that lead to you having this extra $100k....why bother changing when you have a working recipe at this point? 

Typically the opening bid will be the outstanding loan amount plus accrued interest and fees on the loan that is foreclosing.

`(ii) FACTORS- In establishing the standards and policies required under clause (i), the Board shall take into consideration--`(I) the status of any subordinate mortgage;`(II) the outstanding principal balance of and accrued interest on the existing senior mortgage and any outstanding subordinate mortgages;`(III) the extent to which the current appraised value of the property securing a subordinate mortgage is less than the outstanding principal balance and accrued interest on any other liens that are senior to such subordinate mortgage; and`(IV) such other factors as the Board determines to be appropriate.

If there's a first, and it has hard money terms, and he's not making payments, there could easily be $20K or more in interest accrued.

Plenty of time for the funding of mortgages issues to settle, and some appreciation to accrue.

Yes, thanks for the greetings... but with curiosity and skeptism about the Oklahoma City connection!

They separate each tenant into sub-accounts and forward monthly statements showing principal on each and interest accrued.

Just out of curiosity, have you contacted any builders in that area to see if they are interested?

Stambam, Just out of curiosity how did you get to a point where your tenant is two months behind on the rent?