They are out there and the banks are negotiating nice discounts.

In the meantime I have a neighbor that I've basically walked through the modification process for the last 2 years (she's a nice lady and doesn't understand much about real estate, except the fact that she owns a home).

The home is : -Ranch Style -1786 sqft -Year: 1978 -3b/2bth -Has ARV of $90,000 -Rents fron $1,025-$1,200 Nice area in Northwest Houston, TXYour suggestions are appreciated.

Either good newer houses in nice neighborhoods in most parts of the USA go back to at least construction cost, which is double current value, or the entire economy flopped.

I figure if I wholesale for a year or so and get myself a nice piece of change in the bank to back my future flips I would be in a better situation.

Nice to meet ya!

Though selling the property may be the nice thing to do to a good tenant, you do not want to sacrifice income just to be the "nice guy."

It would have been nice if the local news station would have contacted me or my agent(they listed the incorrect agent as selling the home) about this home but I have emailed them if they would like to do a more in depth story.

Also the pool is in a good shape and had a nice heated pool pump.They had originally listed the property for $255k and eventually reduced to $230K, this is when it went under contract for $198K which is around 16% discount.

I think CL has built up so many hurdles and it became really difficult for 'normal' users to post ads...If anyone knows a nice tool to create ad flyers that wont get flagged, please let me know.