Your ability to sell it [at a profit] is dependent on other factors.Are you dealing with a non-performing note, a re-performing note, or a performing note?

What type of performance will the bank require from your property during underwriting.Its 3am and the phone rings and your tenants w/heater just started leaking and the water has leaked out of the laundry room into the living room carpet.

Most importantly is costs close to nothing if you have leftover drywall.See a video on how to perform a "California Patch" by clicking on either name for it.

Here's another other thing I'm finding - especially in the Memphis market - is property performance.

If anyone has gone through the exercise of talking to these folks and can recommend a few I would greatly appreciate it!

Again, we are fully in agreement this entire time.Sorry to David for getting a bit off topic, however, I do believe this exercise did yield benefits to readers.

I have used this many times on under performing properties I purchased.Notice, I did not say more acceptable.

We still take an application fee and perform regular screening (credit/background/reference/employment checks) but our expectations are most will have little to no credit history.

I'm thinking like this: First the Micro: How are MY target areas performing in terms of economic indicators?

I've been told by some that if you buy something that's already performing at the maximum occupancy, you'll be paying top dollar and the only direction that your property value can really go is down if you mess up and end up losing tenants, since you don't have room to add value by increasing occupancy.