One week later we were bombarded with newspaper reporters inquiring about our Lease and our "tenant" Of course I played dumb.

Not really asking if its probable but just possible.Let say you find an apartment complex for $1M, look at the numbers, sounds like a reasonable play and you get it under agreement.

Letter one goes out for the first 6-7 business days (ideally these are to the 30 day lates).Letter two goes out for the next 8-15 days (ideally they are 60 day lates)Letter three goes out over 16-23 days, and then I wait for my new leads to come in.

If you call people back some will claim they didn't call and others you will play phone tag with forever.

It is very complex and you really need to have your own agreement drafted if your going to play in this sandbox.

It's a huge challenge and the projects will take awhile, but it's a fun game to play!

Personally, I have only had one client with an Option ARM problem; most of the loan mods that I deal with are standard ARMS.

You can have all the paperwork in the world authorized by anyone you want to authorize it, but I've never seen any paperwork stop the intentions of those 3 items by a tennant if they want to play "hard ball".

I like your thinking Krzysztof... i hope it plays out that way..... do you think thats really a possible outcome??

I have been playing around with numbers and have gotten offers of 6.625% on a 5/5 ARM.