Well, you're not meeting the 70% rule, but I don't follow that either and if you have a decent market (400 days is not so hot, but it may be the repairs needed) you can cut down on carrying time and money.

I made an offer last week on a Triplex that had 50+ DOM with no price cuts.

If they are your friends (or not), don't cut them any slack with regard to late rent payments.

You'd need a disbursement agreement with the seller not to withdraw funds unless there is a default, in such event it could cut you out of your signture authority.

If your shopping around and getting into a bidding war your going to cut your own throat...

The best thing to do is cut those losses asap and figure out a way to get the money flowing again.

I like my business model more cut and dry but I wanted to know what the frick was going on.Thanks,Matt

I had an issue of loitering and people using my property to short cut to another property.

@Phil Blair I hate to be the bearer of bad news but "customary" doesn't cut it.

Its already a cut throat market here in Texas with so many illegal contractors and yet they have the gull to ask for money for materials!