If you don't sell, it's a breach.Property mgmt companies for properties of this size usually have on-site managers and charge a management % fee, plus leasing and late fees and truthfully make most of their money by marking up the maintenance.I have never heard of a NNN arrangement on a multifamily property structured this way.

After about a month and a half of just checking out the sites while I was there I left for Fresno, California to meet with an investor who had some properties that he bird dogged out for a charge if I were to buy anything he found.

I don't charge the investor/student ANYTHING up front.

Judson just interviewed a student last week that had attended the course and he told how he had put the information to work and is really charging ahead with deals and working with the local governments to get backing from them.

How much would most RE lawyers want to charge to review your various contracts for errors etc. and to make sure they were state legal?

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Will they be more willing to do the short sale process or will it go through red tape like everything the government does.I did one with one previously were they charged the homeowner $300.00 to pay for the Appraisel and some Short Sale Fees.

These LOCs, just like little department store cards when you were starting out, will help the business build a good credit record.

`(b) Purpose- The purpose of the HOPE for Homeowners Program is--`(1) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;`(2) to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages;`(3) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;`(4) to target mortgage assistance under this section to homeowners for their principal residence;`(5) to enhance the administrative capacity of the FHA to carry out its expanded role under the HOPE for Homeowners Program;`(6) to ensure the HOPE for Homeowners Program remains in effect only for as long as is necessary to provide stability to the housing market; and`(7) to provide servicers of delinquent mortgages with additional methods and approaches to avoid foreclosure.

Thanks for all of your advises, it turns out this agent is in the middle of quitting (or being fired) from the current broker and getting in to another; he has been sitting on doc for over 3 weeks (mostly basic REO disclosures that needed to be signed and return to selling agent) that he didn’t know how to pull them out of Windforms (Realtor Online Contract data base); asked seller’s agent questions about them over and over; lack of REO knowledge (REO Specialist printed on his card) and couldn’t care less for his last few clients…Relayed the facts above (with a little help from the selling agent) in addition to the tangible misled evident to my agent’s boss and got only 18 moths worth HOA fee ($810) credited.Yes, another rookie’s lesson learn; just didn’t think he would be that much out of line for a major issue like such; considering he’s a 72 year old guy with shallow ethic.