I have received word that borrower who defaulted on loan has accepted my proposal for a deed in lieu of foreclosure.

Hi Seth,Yes, and most of the information I've been receiving from BP has been telling me that it is better and easier to invest in the safer areas.

Ouch.If you foreclose on him - you receive an unfinished property, and you now become the rehabber.

BTW, the redemption period in FL for the owner is up until the moment the buyer at the tax deed auction actually pays for their bid in full and receives the tax deed (about 5 minutes after payment).

But at the price you are paying you don't have much to loose and if all goes well you'll have an excellent return on your investment.

We only have a house or two, we say.And just because we got away with not having a professional layout when we received a mortgage for our first rental or even second rental, we think it's okay just to present a mortgage company, bank or hard money lender, just some figures written down on a piece of paper or on an Excel Spread Sheet.But what happens when the time comes when you want to really expand?

If you don’t …..be prepared to receive several tickets for things you didn't know your tenants were supposed to (you really since you are the landlord) do.8.

Hi everyone,Asking for some advice on specific condo/townhouse communities you are aware of in Coppell/Plano/Frisco ISD which have units priced at <$200K (preferably <$150K) and would attract higher-quality tenants with school-age kids due to the excellent schools. 

We never considered this a bad thing because we could afford it (and have enough of a safety net to cover a market downturn) and knew that San Diego real estate has an excellent historical track record for appreciating over time.

It compounds your problem because even tho you can have excellent cash flow they won’t account for it in your debt to income analysis.