If the property sells for more than that, which is rare for a 2nd mtg foreclosure, any excess proceeds/surplus go to any junior lien holders, then the owner.

I have been pointing this very same thing out in two other threads recently as the terms have been consistantly and improperly intermingled.Hard money lenders are licensed in the state(s) in which they lend providing them the legal ability to charge in excess of usury laws.

Taxes are typical for Florida... higher than some states but not excessive. 

She would be all pissy about it when she would call but when you were there to address the issue she acted like she had been perfectly cordial.The name neat-freak implies an excessive behavior. 

LOLWhile I think an excessive primary residence is not an 'asset', I believe one that is fairly comparable to what you'd pay in rent anyway is. 

So what do I do with my excess cash? 

Perhaps I didn't do as good a job as vacuuming up the excess water and caused this issue.

It works best if you have purchased below market value and therefore already have some equity in excess of the money invested. 

I do not see anything excessive about receiving 10% ownership as a promote on a relatively small deal.

That seems excessive to me.