I recommend you seek advice from a reputable trust services company, a CPA and an attorney familar with trust administration.

Since markets vary from location to location, your best bet is ask a few reputable mortgage brokers in your area and see what kind of financing is going on right now.

I heard a figure today from CoreLogic, a very reputable market analysis company, that 23% percent of all US mortgages are underwater.

I would be able to do most or all of the cosmetic work myself and I have a friend thats a good plumber and I know a good contractor.

That will cost you $70 for the shower stuff and another $60 in labor from a plumber.

(If you cut someone off you don't want them to know who you are, LOL) Since knowing people (and having a good reputation) is the key to real estate, it's not rocket science, get your pic on your cards!

Since I have such a good reputation of owning and maintaining rentals, I have talked a local bank into giving me construction loans to build brand new ones.

Electricians, plumbers, etc., could all very well find themselves having to deal with the new regs.Property owners can also be fined in addition to the contractor performing the work so don't think the buck can stop with your contractor.

I've been reading the forums like crazy and have found a lot of useful information on short sales--my area of interest, as well as reputable title companies, etc.

For example, my HVAC, plumbers and electricians are on hourly.