If you don't think they are working then get rid of them and find one.

As I mentioned a financing agreement has two key aspects, payments and a security interest or collateral for the lender.Now, we have to have payments of some kind involved, I'm sure everyone sees that and agrees.Let's get rid of the security agreement side first.

If you are lucky, you can get rid of them by the end of the same month and cut your losses. 

There are likely to be a few slow years in there, but remember getting rid of bad debt is more surefire than any real estate investment I've heard of.Good luck.

We then refinanced and got rid of the PMI since we had gained enough equity. 

The reason you haven't closed on a deal this month, is because you are committed to closing a deal this month and not Committed to cold calling 10 MLS listings every day for the next month.The reason you can't get rid of that stubborn belly fat, is because you are committed to loosing belly fat and not committed to running 3 miles a day.Essentially, my epiphany is nothing short of this.Focus on the process and the results will come.

I guess it depends on how desperate they are to rid themselves of the property.Thanks again!

One risk is shoddy craftsmanship, but if you already have to fix the home in order to get rid of it that may be a risk worth taking.

They also might know some building owners that are looking to get rid of their properties. 

If it's a purely investment property, most financing will require 20-25% down.I would suggest using HML as a last resort though, unless you KNOW for certain that as soon as you close/complete your repairs, that you'll be able to refinance to get rid of the high interest.