Not a pleasant situation to be in.  

In your situation having a paid off property is only compounding the problems on what is actually a very poor choice for a investment income property.At a value of 350K and realistically assigning a opportunity value of 10% to that equity it is costing you $2900/month in lost income on your cash.

Your applicant is being extremely deceptive in regards to her situation.

We were both bouncing ideas back and forth on ways to make my situation work.So the ARV absolutely got their attention. 

For our specific situation, we are currently kicking around two possible options.1- bring on an experienced general contractor to manage a second property in tandem to my husbands property. 

(Have to love getting in ahead of the path of progress.)Now that was a REALLY unique situation, and we hit big time on a neighborhood that was about 18 months from having a really big uptick in development.On that particular property, we have done a cash out refinance, and literally have none of our original money tied up in the property.  

Either they’re a official property management company which means they’re small and likely not capable of growing since the market is constrained; or they’re an individual who provides super/handyman support, which comes with administrative and people management burdens not worth the time investment.Btw- no offense to any wonderful zainseville property managers out there: the market just doesn’t pass my personal filters to be worth the time investment.Your situation may be different.

I would never use a national resource for title searches unless it was a national title underwriter. all my note transactions are done by the local title company  No national vendors all fresh title I know most don't want to do this but I am not going to be that guy that gets a client into a bad title situation.. so we are over kill for sure as we order a new escrow on each note assignment.. but hey better safe than sorry when it comes to our investors dollars.

Hey Everyone,  I find myself in a unique situation and am hoping there are a few of you out there with experience/advice for my situation. 

We countered back at 149k, buyer countered @ 146k, I accepted but now.....Buyer is asking that if the appraisal comes in low, I split the difference between appraisal and the purchase price.Context of situation is I’ve decided to sell and 1031 exchange in hopes to buy a 3/2 to further invest (buy/hold). 2 Bathrooms tend to rent out better.