[Editor's Note: Special: What the Mainstream Media is NOT Telling You About The Economy]Bernanke also encouraged investors to step up and accept more so-called "short sales," where the bank accepts a lower payoff in exchange for avoiding the lengthy foreclosure proceedings.

I have to make another trip up tomorrow to the unit.The pipe connecting directly to underneath the sink broke at the bottom and the pipe length I need means cutting the new pipe and a new 1/2inch connector to fit.

Then there are the ugly things like a lengthy eviction or major tenant damage.With one rental you may get lucky and avoid those expensive items.

Jon, I wrote out 2 very lengthy replies and was timed out both time.

The contract states they will have the option of signing a one year contract at the end of the 30 days and $260 will be subtracted from the next month's rent.This method helps deter the scammers whilst still helping genuine people in need who can't afford to pay the whole lump sum upfront.If the tenant doesn't pay up after the first month, it's not going to be a lengthy and costly process through the courts to have them evicted.

You can just google "Free Note Examples" or "Free Mortgage Note Examples" and a lot of options will come up.If you want more specific details on the strategy you are referring to I wrote a pretty lengthy article on it HERE. 

I am afraid with ACV, if I have to file a claim for something past end of life, like a wall that is more than 50 yrs old, I am going to get nothing or very little.Sorry for the lengthy post but has been something I have been trying for a while to read on BP as well as talk to agents and either not understanding or overthinking. 

Any PM will tell you it takes days ( not weeks ) to rent these smaller units Property is being sold at distressed price and already has cash flow with some leases.I am open to fliping the contract preferably JV—I Would do a 50/50 JV -as this is a Cash Cow opportunity that I would BRRR PM dor full details including appraisal at much higher price This is only for someone who has funds available , there is no time for lengthy doc processing .

You'll get that some months, but then you'll have a lengthy vacancy and be stuck making a payment with no money at all coming in.This is a business.

That said, here are a few thoughts:A payout of 10% for five years might be on the low side, unless you've got a lengthy track record of success doing deals like this.