sounds like a cram down and unfortuantly unless you can prove fraud.. a loss of funds invested. and if they are crooks then same thing probably no money to get but pleasure of seeing them prosecuted.. have to remember many who brokered Trust deeds lose money as they no not what they do

So you can steal from your CapEx some i'd say.

Regards,I think your letter sets the tone for what's to come for them.I doubt they will stay if they think the area is going to result in going to prison.You also might want to legally concealed carry in the area.Dope fiends (their customers) as well as dealers can be unpredictable and sketchy in their behavior, and stealing your shoes could result in a bullet to pay for their next high.Also, watch out for unscrewed but still in the socket, missing, or broken exterior lights--that's rapist stuff.

I’ve actually picked up three mls properties this year that were steals and agents were not familiar with the particular neighborhoods and priced them significantly below market value. 

I just had an appraisal completed by the original hard money lender I was going to use and it came back at the value I indicated.Just FYI, no return communication from David and his fellow crooks.

Well usually, as sometimes a steal of a deal does fall from the realm of a fantasy into reality and there can be a bit of a scramble to line up financing, but hey noone's perfect.The list could go on, but the bottom line was that I ended up over paying on financing, with a poorly build new house.

Many are unqualified and some are simply crooks, You would be wise to use caution before putting up good money.

I don't want to step on your agent's toes and it's not my "thing" to steal clients...so let me throw out some basic questions.Are you using the BP rental calculators?

I came across a mixed use property listed on Loopnet for $650K - it's a steal in our area but it's based on really deferred maintenance - somehow this property still yields close to $6700 per month based on very creative ways to produce income.. basically renting out every inch of the property for storage and $200 per parked car. $450 for storage in the garage etc.

If its in a neighborhood that even steals the hinges though I would be very skeptical about that house.