Basically, her entire down payment is gone, and she still has a higher interest rate.

Well, if you dislike BO so much that you won't listen to him, you'll never know what his basic plan is that he has mentioned, oh, maybe 50 times.Something that went under the Radar Joel, was that many of the large corporations, even small ones, saw the economic crash as an oportunity to clean house, they didn't have to fire all that they did, but they saw the opportunity to cut overhead and increase profits while getting out of contracts, so they did.

Then, for most of my houses (at least all the recent ones), you can probably dig up a post that details the exact expenditures (broken down by task) that went into the rehab.

The problem is I typed a nice detailed e-mail trying to do a basic needs analysis but all he responded with was 10%.

Your tour in a new city will give you ample time to accomplish both tasks.

Basically, the current owner is underwater and will take a haircut but is not willing to walk away completely.

Basically if it were only construction I would have bought it.

Basically, at least from what I read, they can force the other partners to buy them out of the deal at any time (based on current appraisal), and if they can't afford it, they can actually force liquidation.

www.biggerpockets.com/forums/88/topics/51836-the-basics-of-real-estate-investment-deal-analysis

But back to that in a minute.The response you posted above basically says the RE commission told you that NOBODY is allowed to write their own contracts, regardless of whether they are licensed or not.