If there are concerns about about the property being destroyed, include "safety" inspections throughout the duration of a lease agreement to stay on top of how the home is being treated.

Hi BP,I have a (sad) situation wherein one of my tenants has been caught in an armed robbery and is in prison.

My loan was an ugly 80/20,, no-doc, negative amortization ARM loan.

I personally think you did the right thing, prioritizing safety over anything else.

Then we would find an arms length buyer and have two closing on the same day.

They are actually a pretty quiet/nice neighbor to have, I just need to figure out how to twist their proverbial arm a bit.Putting beer on my side of the fence wouldn't do much good as nobody would be able to see it.

That would make it a 16% cap rate which is really good.Based on income valuation, if the standard cap rate in your area is around 10% that property would be worth $300,000 after your changes, really increasing your equity and position of safety if you should want to refinance in the future.

@Farah Lopez @Jerry W.Building an out of state team is crucial.Property managers go to IREM.org search for ARM certified <50 units, CPM certified >50units.Property Inspectors go to ASHI.org search for certified.Other team members check out 3 different local REIA clubs ask for referrals, when you hear the same names over and oer they are probably good.You want the best of the best.

All it would take is one arm-chair quarterbacking attorney in a family to prompt someone to come after the rich lady who made money off flipping their home after talking them out of keeping it (at least, that would be the version they'd remember...)

I would want to outweigh the pros and cons, and the buyer with the most added value would surely get my acceptance.For me, I have a background in finances, so I know some really great financial advisors I can refer them to - wouldn't want liability issues attached if I were to handle - that will gladly help them locate a vehicle(s) for the cash they'd be getting out of the property depending on what they want (liquidity, growth, safety w/ growth, etc).