So add the drama of dealing with people who are already not paying for their water.

Flipping is a high risk high reward endeavor, especially with people just starting out. 

Banks only have 10% of the money they lend thus it makes sense for them - but for people who are not a bank why make 6% taxes as ordinary income and barely keeping up with inflationThat $1000/mo payment will be worthless in 20 years.

I'd love for anyone to connect with me as I hope having people to talk to about all this will help make my first time jitters go away easier.

There are 2 types of people who dog on Detroit.. 1.

I'm trying to find people who are actually doing it to check that the theory works.

It’s great to connect with knowledgeable people here and not be completely in the dark as I would be without this forum.  

@Tejani Jeet BhaveshThe debt does not go away it is just unsecuredIf you are a borrower and get foreclosed on if the debt is not paid off it does not go away - it is just unsecuredOnly way for it to go away would be pay it off or bankruptcyYou are seeing a lot of articles on zombie loans where people lost homes or kept homes but were underwater and old mortgage lenders are coming back after them as the debt is still valid and they thought it went away

I have a higher nightly rate because I can sleep more people, my taxes and insurance are higher.  

Why do people not understand this?