He has a lawyer and accountant in Sri Lanka, and set up a company in Belgium to receive all rental money, so no taxes are owed to the SL govt.He is asking $900k based on a valuation that was done for a potential buyer (whose financing fell through).

Is it mostly drug dealers, prostitution, graffiti and boarded up buildings?

Last time oil fell like this it stayed down for over 15+ years-longer if you count inflation.

Only to find out the buyer agent told the title company the deal fell through and they gave the check back to the agent.

OK, I guess if you had a tenant work in the place and they fell off the ladder, they could scream for workemens comp...etc., but I don't see this as a really valid risk painting a room since most people paint their own rooms anyway, but I guess the answer would be if you were comfortable with it and you could supervise so light switches and ceiling fixtures were not covered in a pale pink.

I'm on my 3rd flip since December '14 (fell short).- 2015 was a tough year for me.

During the crash prices held pretty flat even as sales fell.  

@Michelle Lin, I elected to not go with them as the deal fell through.

He funded my single member LLC with $50,000 to buy a property and the deal fell through.

I still went through with the deal, but I will end up coming short on re-cupping this after the refinance is complete.The True Cost of Hard Money - This is tied in with the closing cost portion as I definitely fell short by failing to ask more questions regarding the fees associated with the Hard Money loan I used.Cost of Materials - This is really  mistake, but I am including it anyway as I could have done a better job on the front end with selecting the correct materials on the front end.