Nothing personal there.You'r mixing hard money lender and bank it appears to me.

This allows us the opportunity to file a claim at a later (though we have never had to do this).Here we also collect a security deposit that is the equivalent of one months rent (the limit under the law), which is remitted to the Provincial Rentalsmans office.

Google voice appears to be out of numbers.  

My wife and I can draw out our equivalent 401k plan in Australia in 5 years that could easily buy us 4 house's at the median price.

I might just wait a bit and then re-bid at around 92% asking. no one else seems to be bidding:) Patrick L. appears to have had similar luck with FNMA preferring to sit out deals waiting for someone willing to bid asking price....

Perhaps you want to appear to be a pure "cash buyer" when bidding.

It appears you're not going to get paid either way so it seems like holding their belonging is strictly out of spite and not looking out for the best interests of the residents.

Could still be profitable if "blow-up" happened annually, which appears very unlikely.Desirable area near public transport & 1 block from Lake Merritt in OaklandNow let's talk numbers..MonthlyOwner rents units to me at: $1,000I rent them out at market: $1,600Gross Spread $600Vacancy Allowance from owner $42Total Monthly Gross $642Actual Vacancy $133Other turn costs $42Net Profit per Unit/mo $467# of units 3Total Cash Flow $1,400.00 /moThat pencils out to just under $17K net annually to me if there are just regular turnover costs, without any "blow-ups" like drawn-out evictions, significant damage, etc., which I would expect to be rare, given the tenant I believe I can pull due to the desirability of the area.

You have to pay equivalent payroll taxes and other cost.

The loans would be from non-retirement funds for non-owner-occupied properties.Normally, income from such loans would appear as interest income on one's personal tax return, but, especially with the Affordable Care Act, there might be tax advantages to forming a one-person C-Corp and drawing a salary, despite factors such as payroll taxes, the overhead from reporting and tax filing requirements, and double taxation when profits are distributed.Interest income isn't compensation to the IRS, so if one only has interest income, one can't contribute to a 401k or IRA.