Basically its somewhat the same as the lender doing an escrow holdback of 1.5% of the total project costs.

OTOH, if your rents average, say, $1000 per unit, $100,000 total per month, $1.2 million per year, you might be paying the PM $120,000 per year.

They would have 3 choices 1) more out at the end of the lease 2) m-m lease $200 aboved the rent increased 3) lease @ rent increase.I totally believe in Karma and being nice.

I would imagine things are totally different out there!

But if they total more than the house is worth, it may be possible to get the creditor to accept less than what is owed.

I'm not sure if Rick is totally up and running yet, but I worked with him on space planning a new facility they are moving into in the next month.He has a couple of partners and has had years of experience in collections.I've never used him before so I can't stamp my name on any endorsement, but he came to mind when I read this post.Let him know Taylor Jennings from Office Works referred you.Richard RainhoFidelis Asset Management, Inc.1427 West 86th Street, Suite 562Indianapolis, IN 46260Office Phone: 716-771-1294Direct Line: 317-682-0555Direct Fax: 317-759-2564Cell Phone: 317-378-0229Toll Free Phone: 888-471-0280 ext 1000Toll Free Fax: 877-504-3190Email: [email protected]: www.FidelisCollections.com

Also to add, Previous owner's total expenses for a year were also $2,737.50 which includes property management fee.anyone feel free to input!

Hi Dylan,Here in California, the amount owed on the loan is on the notice of trustee sale as 'total debt' or something like that.

We have had our house listed for about 3 months now and we've had 2 total family's come through.

Jason Walkowicz - what are the gross rents, total P&I, occupancy status, type of financing, are they all houses, are they all physically stabilized such that you won't have to sink alot of cash into them for several years?