Given your lack of reserves and poor credit which would make it difficult to get any money, I would be a little fearful of getting into too many properties that didn't cash flow right.

It is simply a way to estimate the capital, expenses and vacancy the property will incur over the coming years.Two ways I will agree its crude.

Obviously I lack the social graces to apply as a mod....LOL;))

He could simply loan the money, you could form a partnership and he could loan the money to the business and share in the income as well as interest back to him on borrowed funds.

If you can assign the contract, that is easier, so you lock it up and then simply assign the contract to another for a fee.

There is a clear lack or inventory and no shadow inventory in sight.

New plants I put in back in October all wilted due to lack of water.

When it comes to REOs, it may not be that the min acceptable bid was not hit, it may simply be that there were 2 or more offers and the bank is countering the multiple offers by asking for the best offer, trying to fetch the highest price.

Removing it is simply torture for me, which is why I have removed myself from that task, I feel like I added 10 years onto my life by making that decision.

If these are lower income tenants (say rent is < 1000) then I wouldn't put it into the lease, since they simply won't fix anyting.