All of this is negotiated and spelled out in your operating agreement your attorney sets up.Expectations have to be clearly defined and agreed to UPFRONT as equitable for all involved.

Pre-foreclosure is the niche I want to learn and operate in but it appears that I still have much to learn.

Next, I can tell you that other RE professionals, closing agents, attorneys, appraisers or any other who operates under any license to work in RE will have similar views.

Real estate Operators need management and maintenance people.

.) - 75 Expenses $820 (I did not include utilities because normally tenants pay for that, but find out what is common in your area.Net Operating Income NOI (Income - Expenses) = $680Cash Flow: $680 - $1134 debt service = -454 You will not cash flow on this property, even if you get $1600 for rent and self manage, so this option is a no go.

When I brought it up, she said that Hard Money Lenders are virtually non-existent now.

Buying discounted notes would get you there and be more sustainable, again, UNLESS you build and operate a hard money lending business (which can be sustainable), but less passive.

This is a pretty big, "they don't know what they are talking about" mark in my book and I discount their entire operation to null because of it.

Another is the management, typically provided by an operating company, frequently a franchisee.

@John K.Our lease (actually the schedule 'A' to our lease) identifies the tenant is responsible for any by-law infraction fines assessed as a consequence of their failure to fulfill their obligations and responsibilities (put out garbage, clear snow, or mow the lawn, having non-operable vehicles on the property, etc).When we receive such a fine from the City, we pay it and then send the the tenant a letter and invoice for the amount of the fine, plus an administrative fee to cover our bookkeepers time to issue and collect the invoice {though we typically waive the administration fee on first offences}.