I agree with MikeOH first step in changing your future is to come to terms with your past and clean up your credit to start out with the right energy, mind set and financial skills so that when you solicit OPM you appear on top of your game and they want to play on your team.

So you might have to pay these guys off too, to clean up the title which would put this deal in the drain I think.

Nothing else has to be filed.I bet the 2007 QC was to clean up a break in the title before the 2004 mortgage.

Vacant unit maintenance, clean up, a current home you're working on, whatever it may be.Thank you,Derek

Tom just make sure every property is a winner.New investors get a taste of success with one property or transaction then want to go on a huge buying spree.Never buy just for the sake of buying to hit volume goals or talk yourself into OK deals.Your capital will get depleted, you will spin your wheels to break even, and you will have bad portfolio averaging occur.Portfolio averaging is taking the total return of all your properties.

Real estate may also involve personal liability for leases, contracts and mortgages as well as for expensive environmental remediation and clean up.  

Now my mom and I are having to clean up.

HI Dirk,I could use 75% of rental gross income - PITIA however that calculation is the default and I do not need 2 years landlord experience via tax returns to document your experience either.Day 1 with a lease agreement and copy of the security deposit showing you deposited the security deposit check is sufficient for me to use 75% of your gross rental income - PITIA (principal/interest/taxes/insurance/assessments).Or You can use the Schedule E with all non cash losses added back - deprec/amort/depletion/etcThe secret is in how you structure the file, document your story, and attach a well written LOE - letter of explanation so that the underwriter is guided to accept a certain "method," of calculation over the other.

Seeing as I plan to be a live in land lord, so I would definitely have the time to clean up, and oversee the transition.

To clean up a unit after a smoker usually costs us about $2000.