What is the worst thing....the lender takes the property, they ding your credit, your credit goes south, your insurance premiums go up, all other credit costs you more, you won'y qualify for another mortgage for a few years, and who knows what other collateral damage there could be in your life......best thing is to pay it or sell and get out and avoid the issues. :)

I always like to get answers from real life 'experts' in the field, that actually work in the business related to the questions.

My belief in life is, if you can't do something good, you aren't any good.

just use him as a private lender, pay him x amount of y period.As if flip deals go south, you don't want to be in a financial dispute with a guy that can make your life difficult at work.

Even to this day I still get worked up during negotiations, It totally consumes my life until I either get it bought or don't.

Just because the curtians are drawn and you don't see any life, the yard hasn't been mowed and the swing is rusted doesn't mean some little old lady isn't inside.

He was a young, healthy guy with very little life insurance.

This person will make my life so much easier and being I already have a project manager working as an independant contractor, this will probably be my first full time employee.

I don't know if you can only claim depreciation for the first 27.5 years of the life of the house, or 27.5 years from when you buy it.Hopefully some of the tax guys will come in here and give you a more solid answer.

Call it the Life of a Property.