Account Closed  what you Don't understand is the deal is NOT done until its recorded. the Lawyer is a closing attorney and is neutral and has to take orders from both sides if one side says hey don't record I want to renegotiate then he or she is obligated to follow that order..Any one who recommends taking a lawyer to court absolutely  does not understand the legal profession or real estate transactions..

Richmond appears to be overvalued and has also recently enacted strict rent control and eviction policies.

Some feedback:Your estimated life appears to be for a new property and you may want to adjust for the actual remaining life of the existing items.If you have not included the following items in repairs and maintenance, you may want to include them here: appliances, cabinets, counter tops, lighting, tubs/shower, windows, doors, gutters and porches/decks.Interior paint - 6 years seems long...$2500 seems high...not sure on sizeFlooring seems high - not sure on size...regional flooring companies in my market are very affordable and reliablePlumbing and electrical - I don't have plans to re-plumb or re-wire units every 20-30 years but do include estimated cap ex for fixtures.Off topic but consider LVT rather than laminate wood...it's very durable and can get wet.  

Oh and the tenant will try to sue you for some BS that gets later thrown out of small claims court but still wastes your time and mental energy*.

A minor eventual lapse of a deadline or something but (1) it's better to know so you know what mistake to avoid in the future and (2) if everything you're saying is true, there appears to have been intention to deceive so all bets (for them) are off.

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He's been in court for a year,  is pro per (no lawyer), but seems to have the blessing of the judge on his case.

Once she files you will be handcuffed with the bk court.

It may need to go through probate court and I'm sure someone in my network of investors will pick it up! 

keep in mind my friends. not all properties that are in a sad state of affairs will work out this way. some banks just simply take their time getting things back out onto the market. each house is a different deal. the banks blame the courts for the mess, the courts blame the banks. some banks will never drop their properties simply because they have money invested in them. the two houses i have bought like this were pretty close together in time, as well as location. but i have been struggling to find another one since. it has been about 2 years since i have bought one like this. i have found one recently that i would love to get my hands on. i have even found the old owner, but i cannot get the guy to budge on selling it even though i know he doesn't want it. some people get really skittish with things like this. the one house i bought, it took me over 6 months to talk the guy into selling it to me. patience is the key here. if the bank has already placed their name on as the owner, legally, with the local authority, chances are they are not going to drop it. even if they forgave the mortgage, they still own it. you have to find one that is behind in taxes and still has the original owners name on it as owner. then look for a release of lien from the bank. the bank may not file this with the local authority. you have to get the bank to admit that they have dropped it from their books. thats hard to do sometimes. i am working on one right now that i am sure the bank has dropped it, but they will not admit it to me. it has been sold from one bank to another, to another, and so on. i literally have a paper from the court showing that one bank sold it to another, but i cannot get bank #2 to tell me that they own it. they claim to be just the trustee. bank #2 filed the starter paperwork for foreclosure over 3 years ago, and have done nothing since. 3 years of back taxes on the place, no one takes care of it and even their lawyer told me that the case is closed. but the bank won't tell me that they dropped it. patience and persistance works here guys. i will get it, and so will you. just keep working at it