The PM is then supposed to carry out the terms of the lease.  

Morristown has a redevelopment plan in effect which is supposed to appreciate the value of the properties in the area.

I suppose that makes sense.

For a turn around on rents, supposing they are not month to month, will be in the range of 2 years and raising rents by $163 per unit will only find you at the break even point with no reserves for capex.  

Supposedly fair market value for the home in that neighborhood is 125.

I am torn between what I have learned in sales that you have to sell with a good (and true) story, being really unsure what is and what really is not out there in the realm of deals thanks to gurus, and being told you are supposed to demand what you want of life if you expect to get it.

Not surprising I suppose - these developments brought in a lot of first time, no $ down buyers and now AH is buying them foreclosure.From what I can tell, they have only executed one DoT in Guilford:3/6/15 - $552,830,000 - 144 houses - average borrowed of $3.8MM / house!!  

He's asking for no penalty 'this time' because he's short until this coming Monday, supposedly.  

Hi Saul,To be clear for others it looks like ( not sure ) what Richard is posting is a bank levy and not a wage garnishment.Bank levy is taking a lump sum out of the account versus ongoing with a wage garnishment from the place of employment.The banks are supposed to check before they do the bank levy that the funds are not Federally protected.

They are supposed to have a name and address for all owners.