Margins have tightened quite a bit in recent years.

Maybe if someone could walk me through what I need to do to be ready to buy if a recession was to occur and credit tightens (which is a cause and effect of recessionary pressures).My goal is buy during this type of period and I understand that could be difficult as lending practices change during hard times.

We live in a college town that has seen a huge explosion in apartment construction over the last 10 years and a general tightening of the SFH inventory.

If you can't afford to have 20k-30k in a true "rehab" budget for this, I think you'll find you are fronting a high CAPEX bill up front with no/little income coming in, and that can be a major strain if you aren't expecting it.

My concerns would be:-the potential for strained relations within the family-owning a big (and probably old?)

Especially now, lending standards are tightening.

Having learned the process now, I can hone it to tighten the numbers and streamline the efforts for all of us in the future.

Having learned the process now, I can hone it to tighten the numbers and streamline the efforts for all of us in the future.

We're in the tightening phase of the credit cycle.

@Rawn Wilson You have every right to pursue litigation and you should, so long as it does not cause you financial strain.