You have not perfected any security interest and would probably be going to a judicial foreclosure.When you say they are worth 6-10K, I assume you mean the payoff is in that range.

I feel by me having these relationships and knowing what they want it creates the perfect time for me to build a small portfolio of rental properties.

You might walk away from a perfectly good deal because the cash flow appears too thin.Which brings me to another point I'd like to make and that is; cash flow ain't the be all and end all of assessing whether a property is a good buy or not.

This is a class A building in the perfect location.

If it's in perfect shape, market is fine.

But i find that biking through neighborhoods is a perfect blend of the two.

At just an hour outside of Nashville and having 5 secluded acres it would be a perfect location for a corporate retreat center as well.

Refinancing well in advance of a 1031 Exchange is perfectly O.K.

IE payments are made to portal they distribute to smaller investors.. plus filing tax reporting.NO lender or investment company Is perfect and to Expect 100% performance on each and every deal is  fantasy...

A good plan, violently executed today, is better than a perfect plan tomorrow".How about something as simple as "we buy houses".