If the existing property does not comply with all of the current zoning regulations (use, lot size, improvement size, off street parking, etc.) but is accepted by the local zoning authority, enter “Legal Non-Conforming” and provide a brief explanation.

I just can't take a chance with the commercial tenant.

Are you allowed to sublease - that's what you would be doing if you move out of your rent to own property and rent it to someone else.I would never make improvements/repairs on a property that I don't own.

He sees his best chance as walking away from the place under the terms of Settlement, and taking the add’l credit hit for this, but being able to start fresh somewhere else.ACTION: I asked him to email me a few-sentence summary of what he owes, what the current state of play with the bank is, etc., and told him we’d look at the numbers and see if there was a way to help him.He has plenty of motivation, but negative equity.

You've then over improved the lot for the area and would have to sell the house at a loss.

I would give them a chance.

As a landlord about once a year I like to pay a visit to my tenantts and properties around the end of the year.Basically to talk to the tenant, sort of get some feedback, any issues, anything they like to see added or changed, give them a status report on pending improvement items, and while I am there I give a quick tour of the property and may change a few simple things.I have a running list of things for each property.

I have a chance to write up an lease option to wholesale..

Though we don't require a specific seasoning, if the property is owned less than a year we will want to see cost (acquisition plus improvements) and we likely won't go more than 85%-90% of that unless there is a really compelling reason to do so.

Bad news.... more people can possibly swindled unfortunately IMHO, the good news is more investor's will have the opportunity to take chances with money earning 2 interest.