But high level yes, that is how hard money mortgage loans are going to work - if theres a default --> the path proceeds toward a foreclosure since these loans are at their base secured by the real estate

As you go West of Troost the price jumps up so in between HWY 71 and Troost it is a affordable area but still close to all the amenities 

Matthew,Based on recent investor track records I would say choose Ohio over NY or NJ for a 2-4 unit. 

The contract had that Assign clause (they stated that allowed them to list the property on the MLS).The only clause they have in there to keep extending is based on open of escrow- which never happened.

My property management thinks he is qualified based on just 4 pay stubs, employment verification and one screen shot of bank statement (just total. )when I ask my property management to ask that guys to show actual bank statements ( not screenshot of avail balance) and w2.my pm said, “it’s easy to find fraud using screen shot. the more I wait the more I loose.

Most insurance is based on replacement cost which is the estimated cost to rebuild the property in the event of a claim.The easiest way to get your questions answered is to talk to a knowledgeable agent!

My comments are based on facts.

If you told him you have been playing pickup games for the past year and need help improving your jump shot, now he has evidence you're motivated and a specific goal he can quickly help you work towards.

We sold the duplex for $515k and are working on being in a debt-free lifestyle before jumping back into real estate.Lessons learned?

Amount of repair expenses/updates are determined based on property condition.