They also filed a deficiency judgment, which sometimes gets negotiated away in a short sale.If you're going to pursue this sort of deal, do not focus on one property.

This rule allows you to do a cash out refinance inside 6 mths, using the appraised value (BUT.... the loan cannot be larger than your original purchase price plus all closing costs and prepaid/escrows).

Zach, I would be more concerned with the market for larger apartments than the initial start-up cost.

They are straight pass through entities and won't affect your taxes 1 way or the other.In CA, you're sort of screwed either way.

For the record, that is sort of how condo's are suppose to work in most markets.

In a couple instances, I have taken a larger than normal down payment and a very short amortization schedule, 3 to 5 years.

Interesting article.Personally, I'd steer clear of any sort of funding - there are enough places in Europe (for the gamblers) or Asia (for the growth-oriented) to be able to avoid any sort of debt.

It's election year, the government is intent on passing through some sort of tax the rich, which in turn could raise the value of the dollar a little bit.

Finding specialist in larger cities would probably be much easier.Plaster repair is pretty expensive compared to drywall repair from what I understand.

(See the asymmetry, which is one reason I don't like this sort of deal.)