sorry....should've been more specific - I am not looking to sell or otherwise to get rid of the property.just thought it'd be beneficial for some newer investors to see what others are doing. maybe they can learn a thing or two from these real life examples.....

Of all the things I fear in life, debt is one of them.

Life insurance is a necessary evil.

If you materially participate in a "personal service" activity (child care, consultant, real estate agent, etc.) for at least three years, you are a material participant for life.7.

If after that you screwed over some little old lady and her life savings, expect to be showering with others and having your mail read for awhile!

Since then, I have done numerous real estate deals and continue to learn something new every day.

What is the worst thing....the lender takes the property, they ding your credit, your credit goes south, your insurance premiums go up, all other credit costs you more, you won'y qualify for another mortgage for a few years, and who knows what other collateral damage there could be in your life......best thing is to pay it or sell and get out and avoid the issues. :)

I always like to get answers from real life 'experts' in the field, that actually work in the business related to the questions.

My belief in life is, if you can't do something good, you aren't any good.

just use him as a private lender, pay him x amount of y period.As if flip deals go south, you don't want to be in a financial dispute with a guy that can make your life difficult at work.