I have decided to make a go of the sales side and prospect heavily.

Would it be smarter to lowball heavily before the lease runs out or make our adjusted offer after the vacancy?

With Short Sales nowadays, it is very important to:1) Show and document as much owner hardship as possible.2) Very heavily influencing the BPO, is a very important component as well.As far as the lending institution having the owner carry back leftover on an unsecured note.

I started buying some local real estate, some commercial, mostly single family homes.I guess I got greedy and finally topped it off last year with an ocean front property at a great price.I now own 5 properties, most heavily mortgaged.I have been trying to sell the ocean front for the past several months and not getting any bites, have dropped the price by $400, 000, still no takers at $1.500,000.I have about $100,000 left in the bank, my monthly nut for all the properties and my overall expenses is around $26,000.My current income from rentals is about $5,000.I am going through a relationship split from hell, with my ex coming after 50% of the net worth, which of course is only on paper values.She has no legal standing on this as we are not married, but I feel the judge will make an emotional decision.My question is, should I file for bankruptcy, let some of the properties foreclose on the chance that something might sell in time to bring in enough income and/or just pay my own house and expenses, which would give me about 10 months time.Should I look for another investor to come in and fix up the ocean front as a vacation rental?

The sooner you can ditch PMI the sooner this becomes a nice cashflow property and you don't have to count as heavily on appreciation.I'd shoot for finding a way to finish that 5th unit in ~2 years or so, and at that point you can stop owner-occupying and be collecting rent on not only your unit, but also the 5th.

Now, you could have a leaded shower head LOL and of course, your local city water mains are still all heavily leaded.Here is an interesting article to get info on.Plumbing and Mechanical article

it just takes one new member with an agenda.Exactly- not completely against it, but always weighs heavily w/ so much not in your control

I invest and am heavily involved in the Detroit market.

The terms heavily favor banks and require contractors to complete substantial portions of work before making a draw request.

Hi @Nhi Le, welcome and congratulations on the progress thus far.There are a lot of cash flow markets in the Midwest and South/Sun Belt.We invest heavily for cash flow in St.