However, as your portfolio grows, the risk diminishes because the cash flow from your properties will cover any big expenses that come up (assuming of course that you bought properly and have calculated your cash flow using real world operating expenses).

I've been through the file and I know what the balance is and what the bank is trying to recoup from the additional costs.

You do have to balance how much you want to be in the business of fixing crappy old washers and dryers...OR you just buy nice new ones and extend the expected life out to 10-15 years.

Now, I guess I need to find some proper management companies or some reputable agents near my friends in Austin.

So for those that think home improvement may save a marriage, I’m telling you now that it will add more stress and it is a poor substitute for proper counseling.With that said, when you see a home being sold due to a divorce, take a good look at the house because you may see evidence of a great remodel job.

I finance it the balance, in this case 9%, 30 year amortization, 10 year balloon.Some people think I'm too generous with my interest rates, but I'm getting 9% on the $64K loan.

I have found knocking to be the most effective but if I get one deal every two months off all my mailers it more than balances the costs.

They're about 5 months behind on payments.Here's the numbers:FMV after fixing about $105K-$115K.Probably needs about $10K in repairs.Loan balance is about $48K,Bank wants about $5K in late charges and legal fees to date.Wife wants to walk with $7500.My attorney (who's also their attorney and brought me the deal) suggests paying the wife the $7500 (obviously I'd only do this into escrow subject to my getting marketable title.Then buy the bank out (HERE'S WHERE I REALLY NEED YOUR HELP), I sure don't want to pay them full face on the note, nor any late or attorney charges.

Does anyone know what the law is regarding giving notice to a tentant in CA? This is someone that is month by month and is living in the house that is being sold as a primary residence!

The house is sitting empty, about a $51K balance owing, (probably some late charges and penalties) but if she can walk out with $7500 she'd be happy.Anyway, I've done a pretty complete walk around and peek in the windows, typical cosmetics, yard and shrubs are pretty crappy, not too bad overall.