Loves when I get him owner carries in there for a year.I guess I will have to mention the tax benefits to him. since he will only be paying on the proceeds of the sale as he receives them.

If they aren't out at 60 days, start eviction proceedings.

Also, do you tend to destroy those copies once a tenant has left and all necessary proceedings have finished (any evictions or garnishments that may have been required have taken their course) or keep them for your records?

I agree with the get a large deposit that is non-refundable and proceed.

I'd seek someone who specializes in real estate, specifically trustee proceedings and foreclosures.

Perhaps the question to proceed that is do you have a book of clients at your disposal already that you think you could wholesale to?

I'm sure I'll get tarred and feathered for this, but I'm just returning from a long extending vacation and what a better way to get back into the fray but a healthy debate...I'd like to think that the posters on this forum "could see through the leaves for the trees" but given the media's love affair with bashing the lending industry, I can understand why...Sure loose lending guidelines, predatory lending practices and opportunistic lenders/brokers have an investment in the problem, but so do appraisers who overinflated values, borrowers that misrepresented incomes or miscalculated future earning potential and realtors that pushed the affordability envelope with the upsell---This being said, the sum total of these issues still doesn't hold a candle to the core drivers that seems to be remise from this thread.

That leaves you $182.5K as the loan proceeds.

Many others would have waited to invest after making the transition into married life, so I commend you on having a backbone, a brain (for doing the due dilligence), and multi-tasking (for lack of a better term) What I find most interesting is to go back and read your initial posts about being unsure about whether to proceed, and then to read the follow-ups about the tremendous progress you made.

Could be tax leans or mortgages notes and having a mangier run the buying of new notes with the proceeds of currant assets.I guess the question that I ask is at what time in your RE career do you start selling off real property for notes and at what rate.