If you succeed you will like it and stay in for long term -- Some comments by Laura are good.I am engineer - and had four ( 4) rental homes --for over 18 years while still working full time --Consider as Busienss not just investment --this is not stock which you can buy and sell at any time --yes-some times confusing, frustrating and time consuming --My best suggestion is buy a single family home -- best time to buy now --bank foreclosures-- if you have a college or hospital near by -- buy a 3 or 4 bedroom house and rent to three --students or female nurses ( single) -- find local students or young kids to cut grass and have a lawn service to spray checmicals --get an older retiree for minor repairs and maintenance --and dont be greedy --keep tenants happy -- buy hosue --around $50,000 cash --which should be $80,000 to$100,000 current retail value - do some homework on pricing -Refinance the hosue after 12 months --get cash back and buy another -- if you buy one house every year or every two years and let tenants pay for mortgage --you ahev five hosues in tenyears and get paid in next ten years --you will have over $1 million net worth--all paid for Free and Clear Five hosues-- for retiring in 20 years or early --you do not need cash flow now --keep the job if you like the job -- good luck

I doubt that I could have gotten much more anytime soon.

Though I do know some houses in that subdivision were.On the bright side, anything that wasn't hit in 2009 probably isn't at much risk for flooding anytime soon...that was a pretty freak event and I'd be surprised to see anything that bad again anytime soon (hopefully those aren't famous last words!).

If they had a reason that fixing the roof today would not work for them they could have contacted you anytime since they got the notice.

Daniel anytime I work with investors on my commercial deals I analyze the "time invested",their "money",and their "plan".If they are going after a long shot I don't work with them.Too many things to go wrong to take a chance when I have cash investors that are buy and hold.Vanilla deals that are easy to close and offer me the least amount of liability in a transaction.Remember you are getting the license.These other people will want to use your license for financial gain many times at all costs.I do close deals and use the money to buy other investments for myself but it is all above board.I simply state I do not represent the seller and I am the buyer.Then I submit the offer to the bank after getting ATR signed and on file.Some banks will want it listed and others won't care and of they like the offer will go for it.All licensed activities will fall under your broker.They are liable so they create the rules not your friends in the LLC with a strategy they want to employ.Good Luck

I think they should just be able to negotiate the principle down to the current values and stay responsible for their home mortgages.Also, to add to what Josh said, anytime you post a great discussion here on BP, you can also make a FB post with a link to the BP thread giving BP Nation more exposure!

I'd like to think that anytime you're selling anything, the more information you provide, the better the buyer feels about making a decision.With that logic, if I'm an agent trying to sell a MAJOR purchase, I should probably provide as much information as possible.

But not anytime soon :( thanks for your comments, there is too much to learn!

Gain from disposal of an asset is treated as UDFI if there was debt outstanding on such asset at any time within 12 months prior to disposal of the asset. 

It is understood and agreed that lessor and his insurers, agents and employees, shall not be liable to Lessee, Lessee’s family, co-occupants, friends, guests, invitees or any person for injury, damage or loss of any nature which may occur at any time on account of any defect in the leased premises, the improvements therein and the appurtenances thereto, whether such exists at this time or arises subsequently hereto an whether such defect was known or unknown at the time; that Lessor, his insurers, agents, or employees, shall not be liable for any injuries or damages to person or property sustained by Lessee, Lessee's family, co-occupants, guests, friends, servants or any other person upon the premises or any damage to any person upon the premises or for any damage to any person or property by or from any boiler, plumbing, gas, water, steam or other pipes, sewage or any gas or electrical fixture or appliance or the bursting or leaking thereof.