It is quite possible that a lot you had bought for an investment with the intention of selling in 5 years ends up being the perfect place to build your ideal getaway.

In Austin area (Round Rock) where I have two of my properties, you have no choice.

I would like to add a question to this discussion: If you are a wholesaler and using an end buyers money to close the deal is using the end buyers money for your emd not only legal but can you get away with it?

He didn't pay because he thought he could get away with not paying by using the excuse that the apartment is in bad shape beacuse of things like: "there is rust on the sink and there isn't proper AC."

How can the city give me a ticket for tall grass?

And I'm a realtive newbie.I am buying HUD's and only submitting earnest money if they indicate they accepted my offer.If I got several accepted in one round, I MIGHT back out of the least desirable ones.

They haven't paid the past two rounds of taxes...so one year behind means that they're 510k delinquent.

Cash flow for 11 would be 15k per year, while 8 unit would be 13k per year (rounded up or down)recent appraisal on 11 unit this year was 255k.

You are correct, this is a bit diffucult but the realators are telling me that i need to contact the banks, kind of a round and round deal that everyone is trying to keep to themselves.

All this with the help of someone tied to and recruited by the HML lender for the purpose of skirting the law (if they get away with it) which makes the HML and the buyer and the RE agent accomplices in the act of attempting to (if not actually doing it) defraud the bank of what they could have actually gotten should the other offers have been transmitted to the bank.Which brings to mind an old addage:Oh what a web we weave when we first try to decieve.DONT DO IT!