Tried apartments for a few years and was excited about them until reaching burn out phase.

Long story short, Tenant on HUD, has 4 kids. rough ages 5,3,1.5,newborn, one of the oldest 2 kids put the 18 month old in the bath tub and turned on the water, its a single lever, with hot being all the way to the left, turned it all the way on, burning hot water, water heater backs the shower wall and instantly has hot water.

it should be noted, however, that recording a lien for the property buyer is good business, and may make them feel safe, since you don't own the property outright...it gives them negotiation leverage if you stop making your payment, it gives proof and evidence of their partial ownership if the place burns down and you get a fat check from the insurance company, and it also prevents you from selling from under them...like i said, with my attorney, it also prevents me from refinancing and pulling all the equity out...i'd check with a good banker and attorney to be sureand to answer your question, you should be happy to receive 70-80% of the note balance froma note buyer..i just sold one for 76% to be exact, but my payor had good credit (620ish), 10% down, etc, and 4 months of good payment history...

There is two houses at the moment on the property 1 is a burn house and the other has an income of $900.00 a monthThe leasable square footage for the ground level is 5-6 thousand square feet and you are able to build 3-4 stories up, and tuck under parking, without huge amounts of wetlands mitigation.

By saying "as is" upfront, they save everyone from wasting time, energy, grief (for OOs), and ultimately money.

I could take down a couple properties in the range I'm looking at and still have a comfortable level of cash reserves.I've had more in equities in the past, but after being burned a few times I'm much more cautious than I used to be.

So I know people who are wealthy that only do retail and they couldn't tell you anything about another asset class.Their level of knowledge is so high in that one field that they can make money and returns in any market and know the cycle hitting way before anyone else.During the boom times some companies ventured out into un-chartered territory and got burned pretty bad.

It's a term that should be banished from the English language once it's gone from all the houses (or burns them down).

tim, awesome post...i got burned last winter paying heat for a tenant, and i'll never do it again...learn from my mistake

I spend so much energy each year on taxes that it is ridiculous.