You will have a higher risk running into DTI issue that route as well.

thanks,Pat I'm a bit late to the party here so my apologies.Had a great call with @Drew Sygit about a similar topic.Wealth of knowledge from Drew and if you are still looking at starting a PM business, highly recommend you connect with him if he is available 😁100% agreed with @Nathan GesnerWe started PM in Toledo as a subsidiary to our turnkey outfit.Took us 5+ years to figure S#@% out lolSo definitely start "1 by 1" unit per se and grow organically.We are at a point just now where we are looking to scale via M&A.And that is only because I feel that we have reached our peak when it comes to generating organic leads.We get regular lead form opt ins and calls to our office.Literarily "monopolized" Google with SEO and our good reviews so there isn't much else to do IMO.Only issue I see is we aren't looking at expanding out of city and will stick with Toledo for now.Which will limit us in terms of expansion.Much success and all the bet with your business

The real issue is If you cant pay your mortgage without the help of a rental, you bought way to much house.

I have zero issues finding deals that work in my market (Detroit) and I have a hard time believing that the real operators in any other market are doing all that much different either.

I wanted to do a quit claim deed in a similar situation and my attorney told me exactly what you said "Why bother with a quit claim deed when you can issue a warranty deed?"

Usually one would think that Tenants are were the liability and issues arise and although there will be issues there, they are all quite simple to handle however, owners can certainly get you in trouble from a liability standpoint.

The issue and opportunity for us is that in the past Belize government had problems with the contractors getting paid and not finishing.

What other scenarios could I possibly run into besides property value decreasing that could cause issues?

My issue is, he wants the payment to be reduced roughly 50% to reflect the lower principal amount. 

The downstairs tenant made a deal with her ex-husband that he would take the autistic child 3-4 nights per week to stay over by him, so there won't be any noise issues on our property (the tenant's older kids can keep quiet...it's just the autistic child that is creating the noise).