Who maintains the asset when the homowner has walked away?

. :-) I went today for the maintainance check, and the apartment is clean, in good condition.

Give this Realtor Mag  article a read What Unlicensed Assistants Can Do in Your State it breaks down the specifics for every state, California included.Here is what unlicensed assistants can & can not do in my home state of Ohio.DOS AND DON’TS FOR UNLICENSED PERSONAL ASSISTANTSDO: Call people to schedule appointments.Call the owners of properties listed by the brokerage to schedule showings, closings, or inspections.Prepare market value analysis forms.Compile listing packages.Prepare listing presentations.Write and place advertisements.Take and develop photographs of properties.Address and mail open-house invitations and thank you notes to open-house attendees.Deliver documents such as offers and counter-offers.Coordinate direct mail campaigns.Create flyers and brochures.Maintain mailing lists.Monitor closing details.Coordinate closings.Communicate with sellers and buyers regarding delivery or pick-up of keys.Process sales.Enter listings on office “listing board”.Mail copies of ads to sellers.Install and maintain “For Sale”, “Open House”, and “Sold” signs (after satisfaction of contingencies).Coordinate sending of gifts, flowers, etc.Order legal description and plot plan.Prepare open house materials and prepare and mail highlight sheets as needed.Submit earnest money to secretary.Assemble For Sale By Owner and expired leads for follow up by REALTOR.Mail expired and For Sale By Owner letters.Assist with organization of agent tour.If and when property is vacated, periodically inspect and oversee maintenance and care.Install and remove lock boxes.Input listings into Multiple Listing Service and handle Multiple Listing Service changes.Map properties for showing to buyers.Inform seller or buyer of title transfer and deliver or pick up keys.Communicate with escrow officer/branch escrow secretary to keep up to date on all activities during the escrow period.Gather the names, addresses, and phone numbers of all parties to the transaction, including sellers, buyers, REALTORS, loan officer, title company, etc.Keep calendar of all important dates, i.e., loan application, loan approval, inspections, satisfaction of contingencies, title transfer, etc.Attend sales meetings at request of REALTORS.Process incoming and outgoing referrals as deemed correct by the company.Special events promotion, organization, and implementation.Handle bank and trust deliveries.Handle all transaction record-keeping in an organized, complete, and clear manner.Search legal and/or city/county records.Compile information and keep records for income tax preparation.DON’T: Make representations about the services offered by the real estate brokerage.Interpret documents or answer questions concerning documents.Ask, answer, or discuss questions concerning asking price, address, number of bedrooms, or other qualities of a property.Ask owners questions as to their housing needs in order to determine their interest in listing their property.Gather information on an owner’s house or a home an owner may be looking for.Provide information to the owner on properties listed.Request the names of others interested in buying or selling a property.Direct or assist in the procuring of a prospect which is calculated to result in the sale, lease, or exchange of real estate.Here is another example.

@Aaron Douglas "M&R" - Maintainence & Repairs?

I'm stoked that it actually works!

There's a good chance you'll have a borrower file one or more BK's to delay your foreclosure while your collateral taxes and insurance must be maintained, as well as senior mortgages, if any.You will likely have a property revert and have to evict the former owner and rehab the property, protect it and pay holding costs and brokerage fees when you resell it. 

But I didn't do that because we don't want to move frequently and do like to maintain our residence to our standards rather than be subject to a landlord's investment decisions.Cheers!

Some of the older furnaces can last way beyond their life expectancy, especially if maintained yearly.  

I don't think it is a desirable house to rent out because it has high HOA fees and a swimming pool (which I don't wish to maintain).3.

I currently own and maintain investments in the North Jersey Market.