I will be taking a hard money loan to fund a project my contractor has brought to me.

Those payments need to be brought current.

Keep in mind, for the price I paid, I bought it right...So the auction brought a measly $13,000..... so I drove it for less than a year, lost $7000.00.

LOL, transaction engineer, that brought grins.....I agree as tou you avoiding rentals, unless you have an owner occupied arrangement.

Depending on how good the deal was and what percentage of the deals he brought me were good (i.e., how good he was at doing the upfront work to save me time), I'd be willing to pay anywhere from a couple hundred dollars to several thousand dollars per deal.That said, if someone could do this successfully (10 good deals/week), I'd probably hire them and pay them a 6-figure salary instead.

I brought up Austin to him a few years back and he said it was a bit too small and cheap for what they're looking for.

(a) No secured lender shall be considered an owner for purposes of sections one hundred and eighty-nine A to one hundred and ninety-nine B, inclusive, unless and until such secured lender has acquired legal title pursuant to applicable law, and takes actual physical possession, at which point he shall be considered an owner; provided, however, that a secured lender who has acquired legal title pursuant to applicable law shall be liable in any action brought pursuant to section one hundred and ninety-nine only to the following extent:—Within ninety days after acquiring legal title to a premises in which a child under the age of six resides, such secured lender shall either (i) obtain a letter of interim control pursuant to subsection (b) of section one hundred and ninety-seven, (ii) obtain a letter of full compliance pursuant to subsection (c) of said section one hundred and ninety-seven, or (iii) transfer the property following the procedures required by section one hundred and ninety-seven A.

However a new bad actor tenant at a different property (not my property) has brought some trouble to town.Long story short, the bad actor tenant has been involved in a number of unwanted activities including a party a couple of weeks ago that got way out of hand and a shooting occured (at least 20 to 30 rounds fired and recorded by various security cameras).A couple of errant bullets struck one of my properties, and my tenants vehicles.

I brought my first small property in SC thia summer and it hasn't been great.

From past experiences working for businesses with high overhead, it seemed like so much of a burden to keep up with expenses that it brought morale down significantly.