This is purely a judgement call since the area is going in a certain direction.

Unfortunately, the inspections turned up around $50K to $75K in repairs (my best guesstimate), which included foundation work, drainage (because water is actually getting into units during heavy rains, one tenant told the inspector she has had ankle deep water in her bedroom at times) and other water issues.I ran out of time to get any firm quotes during my feasibility period and the seller wouldn't extend or negotiate on price, so I just terminated the contract.I am really bummed because I think the property has a lot of potential, but I am not prepared to sink so much $$$ into repairs on my first deal, even for what appears to be a great return even with $100K in repairs.

Ive been trying to make contacts but Im nervous for the conversations, I dont want to say something wrong or misleadingDoes your lab also get a little crazy when it rains?!

Otherwise, they will place a judgement on my credit.Do I hunt for a hard money lender?

I would tell him that you will have him taken to court to be removed from the property and you will have a judgement filed against him.

With my budget, I can buy a property in high crime neighborhood in Phoeinx ... will get less than ideal tenants ... etcIf I had 150K, I'd consider Phoenix I'm new and don't have much knowledge ... trying to use good judgement and common sense :)

Down here in SWFL you have to sort through the Judgement filings and find the ones that are person to person...

Your job and career are assets one mistake could open them up to litigation in the form of a judgement, wage garnishments, to the life extent of the states statue of limitations.

Further, HOA liens in NC are commissoner sales not trustee sales and deficiency judgement remedies are not applicable.

i go in cycles...some days are slower (this week it's been raining), so i can check in quite often from my phone or computer..some days it'll be 3 or 4 days til i get to check in bc i'm swamped...i also don't have kids so that helps :)i should also add that i do business with a few people from BP, so out of that relationship, comes the responsiblity to get on BP and commnicate with them...and then since i have the old laptop fired up, i might as well stay on for a few minutes and read the forums!