(f) Accelerating knowledge by finding mentors, and modeling their behaviors (g) Using a combination of book smarts, and street smarts.Yes, there are the ones that are proven commodities, and are usable, but upon close examination, pretty soon they need to be sharpened.

Even in Mayberry, Opie was caught vandalizing city property by using a stolen apple to break a street light.

Both me and my wife are very happy to live rent free and since I work on a rotation I will be using a prop morg company to manage it while I'm away until she feels comfortable taking over.

BTW, I really wasn't that worried about you as you said you were using a mortgage originator.

You looking at about $66,500 using a 70% LTV of the $95k ARV this is not deducting repairs and assignment fees.You will be cutting his asking price drastically after factoring in repairs and assignment fees.

There is always the option of using a portfolio lender.$40k would be better if it were making you money rather than sitting in your bank account, so I'd say find a deal and pursue it!

Whether you are using any of these methods or using a realtor - YOU HAVE TO MAKE OFFERS!

So, if you are due $100 per month and the fair market value of the premises is $100 per month, you can recover zero -but, if the fair market value is $75 per month, you can recover $25 for each month left in the lease term.The amount you recover will also be reduce to present value by using a discount rate of 4% - I'm not certain how to do this calculation, but from what I understand, it is a common accounting procedure.

We bought it using a LOC.How did you add value to the deal?

On the flip side with regard to logistics...i'm currently doing cash back refi on a rental of my own, using a Fannie Mae loan.