says the borrower), half the time it's too high (which sets the borrower up to be disappointed when the accurate number is lower than what I said).

@Jon Holdman It appears on the surface that the risk is lower on a vacant piece of land, but insurance exists for the things you can't see.

I checked the property appraisal for the sell price and it was $172,700, even lower than the county appraisal value of $206,607.

- Do you lower your CoC and monthly CF as interest rates increase or do you look for a better deal? 

The building does have quest water lines that are all behind drywall except when they connect to fixtures and appliances.It would be expensive to repipe this as a lot of drywall would have to be cut and then repaired.I know it's a risk to wait for a leak to start and then to repair just that section.I'm getting an ok buy price and the seller won't go any lower.  

I have a question about the timing of the modification:Example: my borrower has 10k in arrears, and an interest rate of 12%Let's say I call him up and we agree on him paying 5k in arrears, I forgive the other 5k and I lower his rate to 10%. 

Drexel Hill because the prices are lower but the rents are similar.

I just know i don't have the experience with lower end places. 

@Chris Youssi i was hoping there was a 30 year amortization program out there, but maybe the lower rate ends up a better deal.

I used the lower end of prices as leasing price and after repair value based on the Zillow estimate.