Jessica, if you bought correctly and have enough equity, you should be able to refi out and into your "new buyer's name" judging from your post, you have had the property for some time so seasoning will not be an issue.As far as PMI, it does not insure the bank from a foreclosure.

In my example, Cyberhomes would not be correct, due to the other values given.

The key is to find under utilized and poorly managed properties and manage them correctly to optimize cash flow and property values.

All the above comments are correct.

Assuming that the NOI is correct, here is how I see this deal:Monthly NOI: $33,500Mortgage (30 yr, 7%, $3.75 Million): $24,950 per monthCash flow: $8,550 per monthWithout knowing what the number of units are, it's hard to tell if this is an acceptable deal or not.

This crisis is entirely self-inflicted and will require drastic fundamental change to correct.

I even agreed to give a 1000 deposit, upon signing and the remaining 1200 upon start, however, this didn't work out.From what I've read most people on here only pay upon START, not upon contract signing correct?

Correct me if I'm wrong but isn't borrowing money on the premise that you're going to do one thing, then deciding two weeks later to do something else....fraud?

I heard Bob Pisani yesterday say that this was a big ponsi scheme, and I believe that is correct.

Start by looking at the Basic Facts, are they correct?