Quote from @Isadore Nelson: Quote from @Russell Brazil: Appraised value is a completely different metric than market value.Isn't this particularly true in Philadelphia, and why?

This is generally true throughout all 49 states... and California.

Don mentioned that this guy might place a lien on your property, and that may be true.

While that is probably true, it would also wash out the grocery store where his food comes from and the neighborhood would look like 

Seems too good to be true, but again, the tenant is trustworthy.

The same is true for all of the other ways in which we source residents.So what does mean practically?

This assumes there or no CAPEX during those 11 years, which would make that recover of cash take even longer.Third, your equity is great, but it only has true value when you access it. 

Rather than "is it true that you owe back rent? 

This is especially true when you have notice (texts, voicemail, letters, time/date of conversations) from those tenants about the harassment. 

What Bob said is true.