Hello,so I recently got under contract the following property located in Southern Utah (well, we're still waiting for the bank to countersign, but they gave their verbal approval):- Fourplex built in 1996, 5400 sf total (so each unit about 1350 sf)- 2 stories - 2 units downstairs and 2 upstairs- Short Sale- Contract price: $51k- 3 units rented at average of $550/month (market rent, if fixed up: $600), 4th unit unhabitable- ARV if there wasn't a foundation issue (which needs to be disclosed to a future buyer) would be somewhere between $250 and $300k- Value of the land (about 0.25 acres): $10kThe property was apparently built on soil that is rich in gypsum, and the proper procedures were not followed at the time (the proper procedure is apparently to excavate the soil down to a certain depth, then replace it with new soil that does not contain gypsum).Poor drainage around the building caused water to get into the ground, which washed out the gypsum and the property started sinking.

Local military bases and transient nature of the work force up here lends to good potential for creative buy and hold investors.

This is standard practice for the funding platforms that are doing the right way IMO.  506(b) can be used by the portals, but many that are using this exemption are arguably advertising and should be using heightened screening procedures.  

Naturally, users of a gymnasium can produce high volumes of vapor (which may manifest as condensation) exacerbating the condition.  

If you're going in the rental income direction, right at the get-go put on paper your: Tenant qualification criteria, Move In/Move Out procedures, your Eviction procedures, your maintenance procedures, and build them all after researching all your state's landlord/tenant laws.

In Oregon, for example, a land contract that's been defaulted upon can't simply be "yanked" and the occupant evicted, without  properly terminating the land contract; I've been told the procedure is similar to a normal foreclosure.

Nor does the conditional nature of the tenant's departure and the tenant's willingness to stay for the duration of the lease had I not been able to find a replacement tenant render his early exit a non-default.In brief, switching tenants was not a mutually beneficial activity.

There are common law remedies available, but they are subject to change based on local rules and procedure.

Due to the nature of the neighborhoods and level of renters that they attract, I am always at low risk as the people I will get consistently have high credit ratings and good incomes.

., and back home since these real estate deals aren't my primary job/I don't have a place of business as a real estate agent (belong to a brokerage but have never shown up there) and are temporary in nature (e.g., my client gets into a contract, I show him property, show up for inspection, closing, etc. -- that is only going to last 45 days max usually so I would assume all trips to the property and even from the property to my place of residence would qualify as mileage under the temporary work selection.)