The house has major structural issue (sadly) and will require major capital to fix. on a side note. the property is involved in some sort of fraud lawsuit!

Or they need a new garbage disposal when they have jammed it with a rock.The majority of my tenant repair calls, I get there and there is nothing to repair: like the tenant who called to say the fridge blew up and wouldn't work.

I have a local map book (Thomas Brothers/Rand McNally have ones for most major metro areas that often print subdivision names on the map) and I mark it up with “good, bad, ok†and other notations.

I find the vast majority of my deals through personal contacts - i.e. people calling me.

So, you have an investment that's sucking money out of your pocket each money, that will take huge bites as soon as you have some major expense or a lengthy vacancy, and that's declining in value.

The vast majority of newbies fail in a short period of time because they don't understand the business.

By the way, I majored in the hard sciences.

I guess one of the major questions to be answered is how a typical private lender might structure a deal?

One major advantage is you know you are going to get at least part of the rent each and every month.However, these are all run locally and the standards, responsiveness to landlord concerns and issues varies widely from place to place.I don't have any section 8 tenants.

Sold off many of them and went down to the bare essentials but building the collection back up with top of the line pieces.I do have to say that for all this time, I never shot sporting clays until fall 2 years ago.