If you will be ready to rock in a month, what the heck- why not start making offers and include a closing date that aligns with your schedule?

If so, and you are in second position, if the buyer defaults on the primary mortgage and the lender forecloses, your second position will be wiped out and you will be left with nothing.The fact that the buyer has no actual skin in this game at all, because you are financing the downpayment, seems risky to me.  

You have to pay taxes, so just say you're left with $358 (30% tax bracket).

They’re below market on their rents ($32.50 for a 5x10 - should be between $35 and $40) and $45 for a 10x10 which should be between $50 and $55. 22 of 24 units are full, so I doubt anyone would move even with a $10/month increase.Owner and I negotiated two years ago and was left off at a $55,000 purchase price, $15,000 down, 6.5% interest, and a balloon payment in 8 years.

But I left 12 months later with an entire business now running well with great local staff I had met on the streets and with a million dollars capital I had made in that year.This is going to sound insulting which is not my intention but my overall impression of most US people trying to make a go of this business is that they were fundamentally lazy.

If they been gutted out you maybe talking $50k-$60k.Look at the lease find out how long they have left on the Fox term and if they have rights of renewal.

If all the usual factors are against me (high utility bills, bad interest rates, vacancy, etc) then I will make 2K…if the stars align than I might hit 12K in a year.In a completely fabricated example, the below screenshot indicates that I have a 33% chance of having a negative cashflow on an annual basis (small red text at the $0 mark).Models like these are pretty simple to construct.Simulation InstructionsTo get started:1.Install the excel add inI like ModelRisk, it is free but there is also @Risk by Palisade.

My hometown bank gives a maximum 4 mortgages per person and I've already used one up for my primary so I have three mortgages left with them.

I'm surprised at the condition they left the home.What do you think?

You have a lot of equity left.