What Jon, Steve and others are trying to communicate to you that an LO or SLO is first and foremost a lease.

He paid a deposit and one months rent and has abandoned the property and does not return calls or respond communications.

I sent the listng agent an e-mail and CC'd his broker highlight the lack of communication on his part and questioning the deal.

I am a real estate broker and I can tell you that if you have signed an agreement to be represented by your realtor than you should communicate honestly with him or her about the position you are in.

The accepted term in economics, accounting, finance, investing and general business circles, is "interest volitility"....anyway, terms are important to keep us on the same wavelength to communicate ideas..

In which case, even if I double over my estimate and invest $20k on rehab, I'll hopefully be able to recoup some or all of what I owe on the note in the event I decide to get out.

Since this communication happened before the unit even became vacant, I advised that I will keep her info on file.

One of the most important things you can communicate to the seller is that you have not fell in love with this deal.

:So many people go to "Bank A" and get turned down, and they don't try anywhere else.I applied with a total of about 8 banks, but actually started processes or deeper communications with about 4 - 5 of them.

With 5 properties owned free and clear producing 5k+ monthly gross, u should be able to leverage some or all of them with a cas out refi.