But you have many options based on what you've provided here.

So to call me names is just so off base but you would not have known that.

Early in 2024, Blackstone was also able to sell the Arizona Biltmore to a UK-based fund for over $1 million/key.These deals signify that, for motivated buyers, financing costs are not as important a consideration as the location or a strategic rationale to own a property in a preferred market.Borrowers of two high-profile portfolios decided to stop supporting their loans, so industry participants are assessing the likelihood of these properties trading.

@Paul Sassin Unfortunately, in Metro Detroit, for all cities but the City of Detroit, water bills are tied to the property, not the tenant.So, letting the water bill go to the property and trusting the tenant to pay it doesn't work - as you've found out.Many of the cities won't even turn water off for nonpayment:(Then if owner doesn't pay the past due water, the city sells the bill to the county (+ penalties & interest) and the county puts it on the property taxes.PM us and we can tell you a MUCH better way to handle water bills:)

On the other hand, investors who rely heavily on debt markets tend to respond swiftly to macroeconomic factors like rising interest rates, concentrating on large, management-intensive projects, and adjusting their price targets based on their evolving cost of capital and future cash flow projections.The top end of the market sees a limited number of marketed investment deals, but the sluggish transaction activity is not due to a lack of supply at the lower end.

We're currently based out of Las Vegas, NV and are looking forward to learning alongside everyone as our focus will be on investing in long-term rentals in both in NV and TX.

I know I have other options like selling the notes or partialling, but this question is more focused on taking collateral based loans against the notes.

While I would love to pay less, based on my discussion with them and what they provide, I was comfortable with that.

They promise to work with you past 6 months or until 3 deals are closed (which you split 50/50) whichever is earlier as long as you do 1,000 mailers per week and attend at least 1 live office hour per week but the 6 months is implied to close 3 deals based on their marketing and conversations. 

Could it work as a rental in those areas sure probably could if the numbers worked out, but your tenant base is not going to be the same as say Spanos area ,Stonewood ,Caldwell some areas around Lincoln, Brookside.