That is where I will draw my ideas from.William

I personally foreclosed on over 200 investors who walked because the properties were not performing like they should have pre 08... so it was all across the board.. just depends on when you bought.. and what your debt load was.That is a great point.I guess you have to draw the line between "buy and hold" investors who are really just speculating and hoping the property appreciates while bleeding money each month, and the ones who are in it at the right purchase price based on fundamentals.If you buy everything based on solid fundamentals (positive cashflow after ALL expenses, reserves, etc) - the market swings of value don't affect you as long as you can keep your units full. 

If you had enough applicants, say you advertised below market rents or even market rates, drawing in applicants and then processing applicants in a stringent manner not approving tenants, you'll be up a creek.

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However the draw back is there are fees to file the deed and the mortgage.

Lenders will definitely not move on it without such a letter.And yes, there is the possibility that you could be found liable in some way for the pollution (not necessarily for causing the original spill of course, but for any subsequent problems if the oil wasn't remediated), and perhaps the asbestos as well.

I am hoping this draws someone in.

In PA a title company is usually used to close a sale, and the title company will normally draw up a new deed as part of the closing.

He told me he was already thin on margin because he was trying to keep his crew working in the winter (December).He asked me for an advance on the draw (said he needed it to finish the job).

Sharad being extremely smart and motivating draws people like me around him.