:lol: Great comment John, you nailed it!

I do agree with you that a person should do all possible due diligence and nail down as many expenses as possible.Mike

I also told them at application what I expected, and how the eviction process worked: Rent is "due on the first, LATE ON THE SECOND, on the third, or at the latest the 5th, their 3 DAY LETTER, would be "nailed and mailed", on the 4th day I would be at the JPs office to file a WRIT OF FORCIBLE DETAINER, and that once I had taken that step THERE WAS NO GOING BACK.It must have worked, between 1980 (converted my first house in Houston to a rental) and 1998 (sold and seller financed my last rental in Houston, I only got to the filing stage 3 times and only had ONE TENANT SHOW UP IN COURT to contest.

The locksmith is coming Monday, I got a verbal from the bank to accept less than full amount on the lates and penalties and might be able to get this place nailed down by mid-March or so.

Anyway, last year I got nailed by AMT taxes.

There are alternate methods of financing, but it seems like a traditional lender would be able to help you on this one.Seems like you'll be able to make some money on this one if you can nail it down.

Q: Does this hourly rate include running to the home center for a box of nails?

That way when I discovered large things after I was into the job I could still get them delivered.Of particular note was 5# boxes of nails.

Go down to Home Depot and pick up a few bundles of wooden stakes and some nails.

I would probably try and use the cash you just made off your car to put down on a home for yourself first, and probably sell anything else that wasn't nailed down to generate some more cash.