A couple things from my perspective: TX is a very low barrier to development state especially compared to CA and even the geography is wide open so the danger is that developers will just move a mile down the road and build new product to compete with yours if good employment is headed that way.

Make sure you don't by an expensive software program to do this.There are products sold based on saving mortgage payers thousands of dollars.All you have to do is what Steve said above...and it is free!

My plan is to be an MREI.It takes a lot of time and effort to be a productive REA and I think the opportunity cost is more than I'm willing to accept.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.You might consider Niche or Specialized Housing like student housing.

Of the 3 primary heat sources of gas, electric and oil, gas is by far the cheapest to operate.Propane is a different story and is a oil by-product in gasoline production.

Best to move on to better more productive opportunities.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.Consider checking out HUD homes for small multi's owner occupied gets first crack.You might consider Niche or Specialized Housing like student housing.

Hi Shawn, We'd be happy to talk with you about our product.

Up until that point, then lender simply has a lien on the property - and the borrower may do whatever he deems fit with the property.Once the gavel goes down - assuming 91 days + 6 months in our example, then the Bank gets what is called a Trustee's Deed or Master Commissioner's Deed - which wipes out all debt - 2nds, 3rds, etc.At that point, you are dealing with an REO (Real Estate Owned) or sometimes called OREO (Other Real Estate Owned) - and when you call the bank, you want the Special Assets Dept. - not Loss Mitigation.

If you've never invested in Chicago before, you should know about some of the special rules for being a landlord there, like the Chicago RLTO (Residential Landlord-Tenant Ordinance).