If not, perhaps you need to negotiate with the seller and reduce the purchase price accordingly.Depending on the creditor and the aging of the debt, could be that they will gladly accept pennies on the dollar, but if they learn that there will be a change in ownership, there is little chance they will negotiate much depending on the value vs. encumbrances.Good luck!

Either start showing it early and possibly reduce your vacancy time, or wait and show the finished product.Personally, I like to wait until the renovations are done if it's pretty bad in its current condition.

I know of people who had over extended themselves, borrowed more than they could afford and then ended up having their debts reduced, and loan interest rates lowered.

It is also desired to have ventilation to reduce (or increase) the humidity in the house.

Many of those dramatically reduced payments, far below rents in many cases, yet left the homeowner upside down.

For example, I don't think I saw depreciation in the estimates, which is an important non-cash expense you can take on your expenses to reduce your taxable income, in addition to your exact interest expense, and all other rental-related expenses.

Actual Current gross rent $130,200k Expenses 80 k, I calculated a little high to cover the following 5 years. 130,200 – 80k= 50,200 NOI- P&I of 44,913.36= $ 5,286.60 net per year $50,200 x .10cap rate= purchase price of $500,200 Reduced rent.I lowered to rent rate on all units, three and two units, to reflect supply and demand, cost of living going up, people have less money to live on and I see it getting worse, state and local rezones' Future gross rent $ 123,600 Expenses 80k, I calculated a little high to cover the following 5 years. 123,600-80k expenses= 43,600 NOI – P&I of $39,008.40 = yr profit of 4,591.6 43,600x.10 cap rate= purchase price of 436,00 Rent out vacant unite @500 a month x 12=60k profit Am I wrong?

Today I reduced the price to $107,500 per my uncle's request but so far there hasn't been much interest in the house and I am trying to figure out if it's the price or the condition or just the fact that it's Hico (aka middle of nowhere).

Some examples include reduced commissions, free staging, free consultation (design, tax credit, etc) and free connections.

Pay off your old debt and reduce your current debt to improve your credit.