I hope she did not lose too much earnest money.  

Check their calendar, if they don't have one, I'd think they would be running a pretty lose ship by the seat of their pants and be disorganized.....not good.I'd also leave my checkbook and credit cards at home.

That being said, the math makes this a simple one:$3,000/ monthly income - $1,800/expenses = $1,200 net cash flow x 12 months = $14,400 divided by 2% bank CD rate = $720,000 what you'd need sitting in a 2-yr CD.Use the excess net cash flow and build up another investment pool to find your next investment property to reach your goal of 10 free & clear rentals for retirement.Awesome job by the way!

They do have some on-line learning resources as I recall, also.Personally, I am affiliated with another REI education group and I am as BIG a proponent of "learn it before you try to do it" as anyone would be in any other field of endeavor, such as plumbing, carpentry, concrete, electrical work, culinary arts, tonsorial arts, etc.Here's how -I- measure the value of paid education: if paying whatever they're asking up front keeps you from losing 2- to 5-times or more that amount due to mistakes in a deal or structuring your business entities, was it worth it to get educated and prevent costly mistakes?...

The recorded amount of the mortgage is in excess of the current value of the home.

The likelihood is that he is going to not perform, trash your property (what's he got to lose?)

Doing illegal things to try and take this into your own hands will cause you to lose even more money than you already are losing in lost rent.

It will require about 8-10k for a new paint job before we rent it though.On the other hand, if we sold the house, we would be losing around 20k after realtor fees, closing costs, etc.  

There is no win but lots of lose in this type of situation. 

You have nothing to lose by asking.I'm looking at a parking lot right now to purchase but need seller financing again to help with the down payment.