Are we simply saying that scenario doesn't exist?

Don's list is quite similar to his.The only thing I have to expand on is before you start demo/trash-out, complete any critical safety issues that may exist before you break out the crowbars.

That of course is an option for you to use if you buy ...Tenants are difficult to schedule showings with, and they are uncooperative at best, that's why smaller buildings will usually be empty when the banks sell.Try offering cash or gift cards to gain access to see the inside, and to get info about the existing lease terms.

No, equitable interest is not a guru BS definition, it is a legal definition and with that, such interest MUST BE MEASURABLE as a financial interest, in dollars, there MUST BE a financial loss suffered if that equitable position no longer existed!

Before you closed you should have analyzed how long this tenant has been there and payment history.If they pay on time and pay market rent and have been there a long time costs to recondition the property will be high and it will take awhile to get them out at the holidays with the court systems taking time off.I would just moniter it for a little while and see how things go.If it's a small dog usually you don't have to worry unless a bite history exists with animal control.If it's a big dog or aggressive breed you definitely want them out as you could be sued and held liable should you not take action and an incident happens.

So I have about 150 to 175 with labor and materials per unit into painting.I don't see a benefit to not repainting it with such and existing color.

So even if the two existing loans were in the proper order if you refi only the first the new loan would become the second.

I am having a very interesting discussion with some folks I know about the JV versus regulation D private placement construct for capitalizing SFR development deals.

I understand this does not meet the 2% rule, 2% does not exist in my market.

It (the LLC) is a business and if I need to foreclose I don't have to observe a boat load of new regulations (new state statutes) that may severly complicate the foreclosure process.