I would hope he/she values their reputation and future business more than a couple months rent on two properties.Don't despair, there is a path forward out of this.

I know its not a huge spread but like I said I wanted to try something new.Hey Jonah, Congrats on a good deal, to only need a few cosmetic touches and to get that nice little bounce in value is awesome.And 7% is probably a pretty solid estimate (usually based on FICO) but I think the important question that you are asking is what is your long term strategy with it?

Am I going to make money on it, is there a value you ad opportunity so that I can fix it up increase the rents and thus increase the value of the property.

This is a reposting of a previous postI value Matt Scott's commitment to help me in with my success.

The building value of the rental is written off across 27.5 years.

Happy to review what you have and advise if it could work.

This is when I go out and value newly vacant REOs.

The property was in a great market but needed a full cosmetic rehab and basement finish to add a bedroom and increase resale value.

Combination of own capital, hard/private money lenders, partnerships and raising outside capital.How do you add value to these deals?

I assume that will add at least $7k in value and you’ve been “made whole”.