Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

To me, mid-tier houses are likely one of the best long-term appreciation investments because they are sought after by so many people in that market, a smaller percentage of people can afford luxury houses and also they may be more volatile but there's always demand for the mid tier price range for the average Joe.I consider myself a serious investor, my LTR's are in a place I would otherwise never travel to, my own preferences and opinions on the location are meaningless as this is purely a long-term investment decision for me and I won't allow personal preference for a location to impact my decisions.

Jack Milleryep, it's the part of the RE iceberg that's under the water.

For emergencies (fire, water, structure) they should call Latchel who then, in theory (again, never had to test it yet...thankfully!)

The paint in the kitchen had grease stains and many water marks and looked horrible.

Russ - The objective of this forum is purely education, but if you'd like to send me a direct message, I can provide additional information. 

If its under water Also who was servicing the loan and what state is it in.

@Rick Albert assuming that in your situation you and your investor are owning/managing these as purely investments and thus holding everything via a partnership operating agreement?  

However, the Most alarming thing is they have allowed the water bill (they pay for all utilities, but the city bills the water to me) to mount over $2k over the last several months.

@Mario CastellanosBIG assumption but if accurate it means the property is under water meaning they owe more money on the property than it is worthThey would not be able to sell it without lender permission essentially.