They did not want to spend the money to foreclose, I am guessing.

My guess is that it's not already a thing if Jake doesn't know about it.

Bryan, it sounds like you want to have your cake and eat it too.If this were possible --- and I am not saying it is or is not possible --- my guess is that a lender would say that the monthly rent payments that you collect could stop anytime and thus making a loan with that stream of payments is extremely risky.

I've heard a few instances of it happening, but I also hear that the bank needs to bid-in at the amount owed in order to collect PMI or turn it over to freddie/fannie/HUD.It varies by lender, and I guess by type of loan.

I guess ill have to sell it unless any one has any ideas.

I guess theres only so much you can do with this, eventually a water issue in the laundry room is going to happen at some point.

I am guessing that you asked about tax return stuff, after the fact.

Subtract debt service (P&I), and I'm guessing your cash-flow is somewhere in the $12-14K range.Your all-in costs to generate that $12-14K in cash-flow is your $38K investment plus the $25K to finish off the fourth unit, or a total of $63K.That puts your cash-on-cash return at somewhere around 20%.

Guess in the future you have to be sure of present and repaired values, repair cost estimates and be ready to pull the trigger.

I guess im just looking for some advice on how to organize a plan and present it to the right people so i can pick up more props by myself or with others..