Buy low and refi and your yields will skyrocket, look at a 100K note with a 30% discount and refi within 90 days and your calculator will go nuts, even after paying closing costs.

If you can cover your nut by only 1 unit leased.... great deal.

Our EPA agency has went nuts over it recently with certain procedures and licensing and heavy fines If you do not comply.Carpet and paint and wall patch is cheap and easy as is lights and fixtures.

All this techincal lingo is enough to make an uneducated person go nuts.

When a $400/month nut is causing you to lose sleep, you're in trouble.

Some people say that it's nuts, but it's a risk that I'm willing to take when my $$ is on the line..:)I would look at the Clerk's Office and see if there are any Federal Tax Leins against the property, as these are not wiped clean from a Sheriff's sale.

Everyone thought I was nuts and that I would be out of business in 2-3 years with such a niche market that would surely disappear fast when things got back to "normal" ...LOL....Guess not so much...Made a lucrative career of helping short sellers over the last decade and am STILL busy with short sales now.

You have no control over the backend where they claim the big nut is coming to you.

Personally I am research nut and can just about find anything I need on the net for free.

I started buying some local real estate, some commercial, mostly single family homes.I guess I got greedy and finally topped it off last year with an ocean front property at a great price.I now own 5 properties, most heavily mortgaged.I have been trying to sell the ocean front for the past several months and not getting any bites, have dropped the price by $400, 000, still no takers at $1.500,000.I have about $100,000 left in the bank, my monthly nut for all the properties and my overall expenses is around $26,000.My current income from rentals is about $5,000.I am going through a relationship split from hell, with my ex coming after 50% of the net worth, which of course is only on paper values.She has no legal standing on this as we are not married, but I feel the judge will make an emotional decision.My question is, should I file for bankruptcy, let some of the properties foreclose on the chance that something might sell in time to bring in enough income and/or just pay my own house and expenses, which would give me about 10 months time.Should I look for another investor to come in and fix up the ocean front as a vacation rental?