I'm OK with this because the tax advantages and the fact my property manager is amazing makes the deal totally worth it for me.

I've got a 5-year old judgment in Virginia Beach (total value of judgment, legal, and interest currently around $8,000).

My first guess is that the pipes froze and totally destroyed the house.

Basically, all loan calculators work on the  similar mathematical formula: [P x R x (1+R)^N]/[(1+R)^N-1where P stands for the loan amount or principal,R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)],and N is the number of monthly installmentsAs you have all three figures i.e your total loan amount, rate of interest and the period, then you can easily calculate its EMI on the basis of above formula.

The problem is the amort. schedule and rates to pay off the second are higher and the total rate blends up for the two loans versus neutral or down with a seller held second.

The choice to take the equity you have built up and put it somewhere else is totally up to you depending on your goals and investment plans.

Here are my projected cash flows rounded:Period 1 – 4,600 Period 2 – 1,600 Period 3 – 6,600 Total – 12,800NPV Based on 25% Discount Rate – 8,100 So, does this mean that if I wholesale it and receive 8,130 dollars, it will be a wash for me?

The master plan, which I'd love to get your opinion on, is to purchase the property, and immediately renovate the unfinished basement on both sides by adding a bedroom (to code w/ egress of course) and bathroom down there, as well as a finished family room, virtually doubling the square footage...it would actually be around 3100 finished square feet (1550 per side) total when complete.

Keep in mind, if you may be using reserves held in an IRA, some lender guidelines only count 60% of the total IRA balance towards reserves.

I am a DIY'er thru and thru, but totally respect and see a need for professional contractor services as well in many instances.