Rent collection update - paid in full by his mother yesterday. 

We have several 8 year properties that the tenants have paid 100% of the initial purchase price of the property.

Plus, having a fully paid-off property could be a nice safety net if the STR market takes a hit or occupancy slows down.On the flip side, if you’re eager to grow, saving for another property could be the better play.

A little update with the bank, they are now telling me that they aren't even going to consider a settlement or a short sale unless the past due 14 contractual payments (around 8-10k) are paid.

.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

I paid a flat fee of $400 to get a sales contract drawn up. 

@Sean Gallagher check the RBP addendum there is usually a clause saying if the property sells that the RBP can be canceled and the services are no longer provided and the charges don't have to be paid. 

My goal is to continue to buy 3-4 condos like this one and use the snowball strategy to pay off these condos quickly so I can build up my passive income(ideally $20k+ a year from 1 paid off condo).

I asked the GC as part of the conditional last $20k payment to transfer the title to me after his mortgage note default since I'd paid him $40k in good faith for work reportedly completed but needed rework.3.)

She might qualify to get a month's rent paid because of this employment disruption. 7.