Generally speaking, the borrower must start foreclosure prior to expiration of the SOL, assuming there are no mitigating factors such as a bankruptcy stay. 

That way you can mitigate this type of stuff from happening a bit.

That way you can maximize returns while greatly mitigating your downside risk. 200k could earn you over 1,300/mo at 8%.

Granted, you lose the protection of an LLC, but your insurance agent and attorney should be able to help mitigate the additional risks.

Any advice, resources or personal stories is much appreciated to help mitigate any major surprises in the upcoming future.V/R,Tommy Garcia

The 10% fee on it is to MITIGATE our time-suck.

Simply put storage can be the life-changing investment you are looking for but it is not a get rich quick thing.....Two considerations....First, investing $300K as your first investment, means you are jumping in full bore and that is not a great idea from a risk mitigation stand-point.  

You can mitigate sound between floors by removing sheetrock, installing insulation, applying metal strips and thicker sheet rock, but thats a costly upgrade.

Echoing and expanding on Charlie's good points--the mass lead law is "strict liability" meaning you are responsible pretty much no matter what actions you take, fail to take etc. practically, there is litttle danger in a well maintained place but...One of the reasons the lead mitigation etc is so expensive is that the remediators are taking on some of that liability.

But everything has been profitable and now we know what to look out for to significantly mitigate risk so I'm so much more confident in this asset class now.BestChris