I don't mind competing against other landlords if we're playing on the same field.

That's the problem with having a pre-determined price in your option in today's falling-value environment.You could try to play hardball and tell them they're obligated to pay the contract price to exercise the contract and get the credit.

Now I understand the value of having someone you can trust on the ground and I'm not saying this person shouldn't get a cut but perhaps you should work out a deal where your partner gets a scaled % that increases over time as you do a few deals and see how the work and effort split plays out.

I dont have a strong understanding on "delinquent condo fees" and how that plays a factor in investing in a condo.

I deal with Regions bank and they have a charge for bank checks but give me all I want at NC due to my relationship with my banker.

I guess my situation could be worse, but I have a great multifamily under contract which very conservatively needs about $20k worth of work to be 'nicely' fixed up- new stucco, paint, carpet, updating bathrooms and kitchens, etc.The problem is I already have an FHA loan, and won't qualify for the ideal FHA 203k program.

I could not tell you what caused others to overlook that property (the foundation issues probably played a role) but it worked out really well for us.

I buy UI POSs (last time, literally), so it will be interesting to see how 11SP3144 plays out on 2012-02-16 (AV: 117,191, loan: 100,000 on 3/07, opening bid: 42,114.00)... and 10SP6918 (impaired) and 10SP5243 (10,800 open on 99,400 note 91,657 assessed).When the deep rehabs are getting interest, we're well beyond the inflection point for my local market.

Do you ever see yourself exiting out of real estate completely one day, cashing out, and just play with your grandkids everyday without worrying financially about the ups and downs in the economy?

Seems middle age tenants are used to playing the float and therefore prefer paper checks.