The biggest mistake I made was not keeping 50 or so more of the 500, yes 500 I flipped in my market, HUGE mistake, cost me millions, Wealth is built not flipped. 

You would come up with the difference plus closing costs which of course is much lower then 20% of 400k plus closing costs.  

You can seize assets and have them sold but again the costs are paid by you and added to what they owe.

You have to run the numbers - at $389K plus costs for the rehab, is it worth it?

Hello,So I am a little curious about 1031 exchanges with respect to "step up in cost basis due to death".

Plus, you want your lease agreement to fit your business model, help you to reduce costs, provide for compensation from the tenant for administrative burdens imposed on you by tenant acts or omissions, provide for procedures tenant need to take for maintenance and other tenancy issues, etc.

With rent and mortgage costs doubling in recent years, affordability for locals has decreased significantly.

I also love it here.It will cost $100,000 and we will finance half with a personal loan @ 7% for 3 years.So im putting 50,000 in cash and I expect to earn about $2,000/month.

A lot of investors have been drawn to the Midwestern markets due to the low cost of entry and a lot of the markets being landlord friendly as well.

Severe settlement issues were later found, making repairs unfeasible. o avoid delays and extra costs, we quickly sold the property to another investor.