Can't the 1st mortgage holder foreclose on the property, take ownership…and cut me out completely?

We have cut our expenditures a lot, and if I try to do any more, my wife may just kill me.  

This is a little more complicated to explain and off the subject a bit so I will just say that with the fear of rising interest rates over the next few years, I was looking for a replacement for my bond portfolio, which I have been cutting back slowly over the last couple of years.

A huge portion of buyers (possibly all of the ones that could be interested in that property) simply wont live on a busy street, it is a deal breaker for them so you could cut the price by 10% or 50% and they still wont do it.

Seriously, stay away from a lot of cut ins and bump outs.

I think Kenny Rogers said it best"you got to know when to hold em, and know when to fold em"Knowing when to cut your losses and avoid throwing good money after bad is a key investor trait.

-i'm nitpicking here but installing bamboo flooring and calling your project eco friendly really doesn't cut it.  

If you can do direct mail, use postcards rather than letters to cut your cost in half and focus on absentee owners first.

The next time you're in Texas, you should check out...Cut-n-ShootOnalaskaGun Barrel CityMonkstownTigertown OrPoint BlankYou know I can't make that crap up!!!

Hey MarcusThe 2% rule and 50% rule can be found in the beginners guide here on bigger pockets.The 2% rule basically says that for rentals you should be able to rent out your house for 2% of the purchase price each month, i.e. for a $100,000 home you should be able to rent it out for $2000/monthand the 50% rule basically says that over time 50% of your monthly income will go towards expenses (i.e. taxes, insurance, vacancy and repairs)While im not sure that the 2% rule is necessary for SFH since joining bigger pockets i have found that most serious investors dont operate on less than 1.3% and that the 50% rule can be cut to 36% if you are managing it yourself as roughly 14% goes to a property manager (but you should still want to pay yourself as a property manager)i would recommend reading the beginners guide it has a lot of helpful info on this subjectNick