The problem is, once the numbers go up to standard SFR in good areas ($200K range) then the percentages start to catch up with you.

You will get the same answer from any lender you ask (unless the loan officer isn't aware of the guideline, in which case you won't find out until you get a denial by underwriting when they catch it!)

NOTE: The limitation period is tolled (stopped) for any period during which the debtor is absent from the state and each time a voluntary payment is made on a debt arising from a written instrument.Almost all other actions fall under the 4-year catch-all limitations period, (F.S. 95.11(3)(p)).

I am surprised that I didn't catch the over 62 in the RI Tenant Landlord Act Law.

They give you a Partial, which I used to not take if they were causing trouble, you immediately Post another Three Day Notice and continue to do so until they catch up on the Rent.

The goal is to find what works for you and catch that investment bug.

It's not likely that you'll get any money immediately and it actually could take a few years but eventually it will catch up to them and they will have to pay.The Spring market is so hot, I'd just focus on getting it re-rented and chalk it up to the game of real estate investing.

One can make the arguement that we have a lot of people moving in, but eventually supply will catch up.

Their assumption is often a once they leave "catch me if you can" sort of attitude.Gail

I have rental homes back in texas that do generate high returns but this is my 4th flipped condo in south beach I'll be looking to buy after having sold the previous 3 for great gains without , my current one just went under contract for a 38% cash on cash return in 1 year so for the most part I know what I'm doing with these condos but an incredible offer just came across my realtors desk and I wanted some advice.So there is a building with units in the $1200-2000/sq ft range and I have the opportunity to snag a water view unit on a low floor, 9th floor, for $750/ft but there is a big catch.