Document all your efforts, including repair invoices and communications, to show you’re acting in good faith as a landlord.

I have spent hundreds of hours on the phone with Safeguard, attorneys, other investors and real estate professionals dealing with non performing notes and deteriorating real estate. 

Avoid common pitfalls like skipping due diligence, underestimating repairs, and overleveraging having reserves and a strong team is key.Good luck!

If cash flow means you make $8 more than your mortgage payment in month 4, awesome, you have $8 for that month.But.... if you factor in closing costs, make ready costs, leasing costs, repairs... it's typically years out until TRUE cash flow, with a value add or a turnkey (unless you absolutely knock it out of the park with a BRRRR and then somehow cash flow after the refi, which I guess is possible but very unlikely.)

What I disagree with is VRBO's blanketed take on pricing when it comes from a 3rd Party, which is something that was mentioned on the phone today. 

Conducting inspections and due diligence on the condition of a property to derive realistic estimates for repairs is still the key.

I'm totally good with some sweat equity but I'm not in a position to do Roof, siding, structural repairs and such.

However, our tenant turned out to be problematic—late payments, issues that led to an eviction, and additional repair costs before we could relist the property for sale.Now, after months of making mortgage payments out of pocket, we finally have an offer.

HI @Amir PortalWe connected the other day on bigger pockets and we spoke on the phone.

I literally laughed through the phone at his suggestion, because I was broke, in debt, and in every way and unqualified borrower, and the lending environment in 2012 was probably stricter than it had been since the invention of the 30yr mortgage.