I'm trying to refinance a piece with some cash out, just went under contract on my lot next to it for $260k for 7 acres, but need to refinance the 249 out of a owner carry contract for the other deal to go through.

You don't want to be an Absentee Owner.

We struggle with owners NOT listening to our advice, so their properties end up sitting and then they want to blame us.Also, we do get a lot of applications at this time of year, but the quality of the applicants is a LOT lower than normal.Send us a link to your current ad and we will give you our feedback.

The lease specifies that tenant must notify management and owner of any additional occupantsand that they're subject to board review.

If the average days on the market for recently sold properties is relatively low and they are selling close to the listing price then the data is telling you that the risk of purchasing, renovating and reselling quickly is relatively low, despite the crime data.Establishing local relationships and having a team on the ground that you can trust can mitigate the risk associated with a potentially bad neighborhood.Regarding West Englewood- We sold a property in that neighborhood in the fall for an absentee owner.

The difficulty here is identifying them and getting in touch with the owner or heir in charge of the property.

(Did you buy with an owner occupant loan and not owner occupy?).

People do this because far too many owners/insurance providers are willing to cave and settle out of court.

One of those arbitrage deals I had 6 units with same owner when COVID hit, I got out, found long term tenants to replace me and that owner funded stuff for us to buy together.

Keep in mind if you sell with a Realtor you'll pay around 8% in closing costs on the sale (5% commission, 3% other C/C's +/-)  If you think you'll be able to re-sell by owner then factor that 3% but if ARV is $130k the numbers get a bit tight.  3.