Our investors don't want the late night phone calls and the hassles of tenants and so we have worked hard to develop a relationship with a property manager who is solid and dependable.

hmm... a few useful bits of info from what I've learned so far without copying the entire fix and flip page from my website:An ideal place to start looking might be in neighborhoods that are in the 25-35 year old range; basically where houses are outdated but still hopefully in good structural condition.With this kind of unit, you can focus on some of the more basic, value-added repairs such as paint, flooring, landscaping, and other basic finishing touches.

Here is a nice bath from a house that I finished last year:

As many of you know, we've had a few glitches lately, and our property directory has been a victim of those.

UPDATE: Just finished with my accountant regarding 2005 taxes.

The problems that I dealt with during my first year as a landlord:Water pipe burst / total rehab of 1 unitPay-as-you-go general contractor that didn't finish the work on the unitMold / complaint filed with Health DepartmentCrack in foundation that let water come into 1 unit every time it rainedGot locked in to a below-market-rent section 8 rentalMarketing for vacant unitsTenant disputesSection 8 dispute (although in this case it earned me $1900 :mrgreen: )Fortunately I haven't had to deal with evictions yet, but I know they'll come in due time.

Would paying it this late help anything?

Buyers can get ugly too, especially when they forfeit their option due to to late payments which will make the evildoer attempt to waste your time in court.

I like to have them balloon in 5-7 years because I'm in my late 50s.That's how I do it.

This is a bit late to help you, but others can and should heed this piece of advice; NEVER LET ANYONE GET AHEAD OF YOU, on money.