I also include a link to thread of an agent who had a problem collecting his referral fee, and would like to avoid that and I'm sure he doesn't want to go thru it again.

10 years is the general timeframe to collect on all debts owed to uncle sam.

. - There would not be a rush to flip the property.Questions: - Would I be able to collect any monthly income, or would I have to wait for sale of the property?

I had one idiot who wanted to fight me saying he was entitled to get a loan, .....right, that'sthe guy I'm going to work out collections with....I always said we make common sence loans, that while I look at all aspects of lending, one or two issues may not keep us from making a loan.

Pay a property manager 10% of collected rent.

I collected 750 per month and I had a 261 per month pmt and about 140 in property taxes and insurance and I had a 400 a month heat electric bill.

According to property assessor, the cost basis of the structure of our 1 unit is 60000$, BUT according to our insurance company, it will take 112000$ to re-build.Last year we depreciated using 60000$ cost basis, but I am reading the book that suggests different methods, making a point that there's no right one.It's a huge difference, and according to the book ("Every landlord's tax guide" by Nolo"), usually county assessors UNDERESTIMATE, which gives me SMALLER deduction if I use their data!!!

Higher end property like the one you talk about is less risky and collections are easier but to manage that debt on negative cashflow seems more risky then its worth to be in a great hood.

I always like to have extra data points on rehab pricing, so please update this thread with what you ultimately find.

If I were to convince the investor to assign the deal would the agent be able to collect a referral fee ($1500) on top of commissions if it closes?