If they don't have it, work out a payment plan of $50 per week until it's paid.

It was a very nice place with hundreds of units, 3 swimming pools, workout facility and more.

Best wishes and I hope things work out for you all.Andy

Intemidating your tenants might not work out for you.

However, I'm sure with older apartment buildings the price of these might work out to an adavantage.

If there is water damage that might be serious, they can ask for other inspections and for repairs to be made, repairs are, at that point up to you and the seller to work out.I'd suggest you try to look to your lender as your knight in shinning armor, they protect you from getting in over your head, if the property has serious defects, you might look at something else...but if you're a rehabber, work out the repairs needed.

Brian Burke makes a good pointThey may have wanted to use it to keep the kids close to home and that didnt work out

So IF net is $21,600 at 16 cap price would work out to $135,000.00I personally have experienced the problems of old, apartment complexes in low income areas; I much prefer the easier returns of private lending or even the lower cash flow/higher appreciation of properties in A areas, so I would need a 20 cap to be interested.

I am trying to work out a couple scenarios for him to just be done with it minimizing loss and stopping continued loss from his IRA.

and if so, how did it work out for you