You can never go wrong with having a good chunk of cash for a safety net and then money to buy with.

Because of this quagmire I am passing on some good stuff because I don't want to deal with the arm chair investor.

Is it fixed, how long is the loan, is it an arm, etc.

. :) Forget doing any note thing and making an easy transaction something difficult, kicking back payments one way or the other, that's not really at arm's length and it's a tax issue.

LOL, Pat...2 real reasons for permits, public safety and money.

I offer prayers for those in Colorado for safety from the floods.

My wife is not thrilled at the amount coming out of my safety account, but probably happy I have a therapy house to swing a hammer at again.

If the landlord does not fix it, and Code Enforcement things the problem is a safety hazard, they will condemn the property which means no one can live in it (no rent) until the problem is fixed.

@Leatha Williams @Jeff S. is right on track.I will add, you need to line up your team get the best of the best.Property Manager go to IREM.org look for the ARM certified.Property Inspector go to ASHI.orgLocal REIA clubs get referrals for real estate attorney, contractors etc.Remember expenses for a property that size should be 35% of gross.

Check out Amanda Han who is active here on BP.To find out about an area go to IREM.org search for ARM certified property managers.