I was thinking that if I make this unit as unappealing as possible (since we are currently remodeling it) that this may help lower the assessed value and save a little on taxes each year.

I always take this as a sign of progress in improving the neighbourhood.

So if I send it again it opens the window and lets me write a new reply which I did.I respectfully disagree with your assessment of Participation Loans.I suppose if I had a huge issue with any of my participation loans I would then fall back on the attorney who wrote them and their E and O insurance.but that has never remotely been the case..

RE foreclosures and collateral sales are not readily liquid and the fact that a recourse loans are made, address this issue of accepting a less liquid asset.Now, if the individual borrower were to pledge the property as well as cash assets, say a bond or even stock or bank CDs, then the collateral aspect could swing the risk assessment toward a NRD.Off to other areas.Usual and customary carries legal weight in any transaction, from buying a car to having pizza delivered to residential and commercial real estate deals.What would a reasonable person do in the same situation if they had equal or nearly equal knowledge as other parties?

How often would you suggest we meet to review our progress/plan?

Wade, devising the amount of coverage takes in several aspects of risk assessment.

I'd agree with Troy's assessment on the ARV and general take on the neighborhood.

You cannot make progress without making decisions.The more you know the less you need to say.If you go to work on your goals, your goals will go to work on you.

("Stress testing") I think this is a more realistic way to assess the likely range of outcomes, rather than some "overly precise", but less informative calculations, where I see people estimating they will be earning $129.72/door this year, with a ROE of "approximately" 17.25834%..

I'm thinking that you may be thinking the value of your lot is your tax assessment and since you never thought of selling it, because it has the 6 car driveway, you never looked at any other information.Or maybe you have the value, based on the assessment split on your multi-family property.