He was like watching a train wreck in slow motion.

So I'm new here and stepping out on a (relatively) small scale.I've been looking at the distressed properties around me, thinking of my retirement, and basically said, "hey, why not build some sweat equity on one of these wrecks."

I rather spend my money on new windows or a roof or something else the tenant wont usually wreck.

I am in the process of a short sale on a Investment property Townhouse I bought pre construction in 2007 that I can no longer rent and the value has dropped about 60% in the last 4 years.I was foced to stop paying the mortgage to Bank of America about 8 months ago, with no income and it wrecked my 815 credit score down to 630 - last time I checked it.

If you were unable to repay me, and painlessly and quietly did a deed-in-lieu and did not do any damage to the property and that would be the end of it.You wreck the place, steal what's been put into it, start demanding some of your investment back, or, especially, make me foreclose?

Especially anyone wondering about the "magic formula" of working short sales or if you're curious about Club Fed, Obama's good ole boy club featuring Georgie Soros, Paulson and the GS wrecking crew:http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1153419Safety Tip: don't drink hot coffee while watching.

Have you managed what you have well, or are your finances a complete wreck, and your credit a mess?

Looks like we'll have to hold on for this train wreck.

If I have a wreck in my car, my company might drop me.

An owner occupant has even lower expenses than a landlord (you usually don't wreck your own house or force yourself into a lengthy eviction).