The license fee part is managible.

You would need to contact the decision maker at the bank or investor to even get the property under contract and that won't happen.Most banks use internal or 3rd party asset management companies to liquidate REOs.

Rents have really exploded in the neighborhood-more than I realized--so I could raise it by a third to bring it to low/middle market, appropriate because it's a little beat up and dated, especially now that the area has become so much more expensive. 

Third, it’s already been discussed here but rehab costs are much higher here.

I had this problem , lucky for me I had a third building with its own meter I keep for me , I ran the well electric to that meter 

The part I like is the security of having 30 year fixed rate loans at ~5%. 

That's the part I think will not work... keep us posted though.

.  :-)The funny part of that , well the sad part ,is the average slob watching tv won’t put two and two together to see the internal logic flaw involved lol I’ve heard it said the average television program is based around the mentality of a 12 year old viewer .

Two thirds of our properties are paid off and the income more than pays for our personal mortgage, so no complaints at the time.Now that we are looking to expand we are starting to open our eyes.

Not sure why but I guess that what my brain does on my third Monday of the week.