That is kinda crazy that is the biggest they will let you go.

@Nick Walters the biggest challenge you'll have in acquiring 10-12 properties is the Fannie Mae 10 mortgage limit.

Over the years it really boosts your access to credit and, ironically, your credit score as your revolving line % goes down.The biggest thing to do is always make sure you never miss a payment.

If the 1st mtg actually made the connection with what happened, I don't know how much that would increase the odds of them seeking the deficiency, but it would certainly be incentive for anyone who may have bought that remaining debt from the 1st mtg holder, with that much equity.

But the biggest thing is the risk.

Its a great self motivation book directly related to making yourself a success.Now... by far... the biggest most important thing...KEEP TAKING THE NEXT ACTIONABLE STEP!

More and more investors are choosing this delivery method in our markets as they typically get the biggest bang for their buck this way and virtually eliminate they need for any change orders which can get out of hand without and good well defined scope of work and complete set of construction documents.One recommendation that I can make without hesitation is to be certain that you use only DC experienced and licensed general contractors when you bid it out, as I have seen lots of developers/investors get delayed due to regulatory issues associated with stop work orders and the like because a lot of contractors don't know the process and the system in DC.

Now a value add is cheap because you are paying low to begin with making the forced appreciation worth your time.The biggest mistake I see people do though is pay a premium and say I am going to do this and this and this and then the property will be great.

Since we are approaching the end of the year, is there any incentive for a bank to get REOs off their balance sheet before the end of the year, or does the timing not matter for them?

Note you may want to save for a higher reserves fund.Common Utilities - Looks like your doing this already by hardening your rentals.One of my biggest bangs for the buck has been removal of all outside water bibs/faucets ;) no need to have tenants washing all their cars or watering the lawn.