Craig keep me posted, last year when I approached many banks about buying non occupied multifamily it was pretty standard with 20 or 25yr terms with balloons from 5yr to 10yr with an LLC.

Not everyone can qualify for a mortgage, especially with the tightened lending standards that we've seen in the past few years.4.

The mortgage did have the standard appurtenance/ interest in other lots clauses though.

Disadvantage, it will be my first home that I OWN..The meat - 3 family - 2462 SF - Purchase price $300,000 (in discussion w/owner)Unit 1- 3bdrm plus art gallery - $1400/MoUnit 2 - 2bd - $1100/MoUnit 3 - 1bd - $900/MoTotal (conservative rents) = $3400/MoProperty is recently vacant, in decent shape (out-dated) nothing major needed ASAP, I would look to do minor cosmetic upgrades to be a "higher standard" rental unit at competitive market rate.2nd Property - Single Family 3,000 SF 5 bdrms - 2 kitchens (possible multi conversion) - Purchase Price $280,000 (in discussion w/owner)Quiet Dead end street in nice neighborhood, large backyard w/greenhouse-ARV - $425-$450,000Assessed $440,000..Initial walk through property needs new roof, and may have mold issue.

Wayne, Patrick is correct as a licensee is held to a higher standard of care in dealing with the public, they are seen (blindly in some cases LOL) as having greater knowledge and dealing from an advantageous position, it's viewed that way in all states but rules vary. :)

Letters of demand are not initially filed for record, they are letters sent to an owner/borrower.

I looked in the files but no luck...Thanks in advance!

Sure, they are often advised by their agent, and later the price is confirmed or countered by the bank, but as in all standard real estate listings, it is the home owner who gets to price their house.

Everyone always thinks standard 12 months or no deal and that's just not always the best move just as you said.

The judgment company will require to ask questions and look at your file to see if the debtor is even collectible on any level.I wouldn't drop 500 more not even knowing if this person is collectible or not.