If you're a regular cash based tax payer that was 4/17/18.  

Regular ROI includes the pay down of principal on your loan as profit (this is also how the IRS calculates it). 

Work with them to resolve the situation.If they abandon the property, you'll have to deal with it according to state law.This is an example of why it's important to keep an emergency contact on file for every tenant and keep it updated.

It also has several opportunities to house hack the estate which include a mobile that I am renting ($1000mo), walk-out basement that needs updated but can be rented, and a building that looks like they were trying to make a duplex but the county shut them down for not getting the proper authorizations.CURRENT NEED: GUIDANCE, MENTORSHIP, and maybe a little more GUIDANCE.

I bought it in 2004 with my first rental and then bought a couple updated versions later on.

Cash or regular financing only

I will meet with the renter this week and update on the progress.Thanks again

Matt, last year we were regularly wholesaling houses to investors at 80%-82% ARV less construction cost all over the DFW area. 

“time being of the essence” is referenced in regular contracts, nothing specific to foreclosure. 

After all expenses(Tax, Insurance, Bank note) I’m looking at $484 being the break even.Looking to loan out $54,000 to cover buying the house, paying for the update and getting a little cash in my pocket to put towards another rent house on the same street.