I'm here sitting in the Indianapolis airport waiting for my delayed flight home to SF...after spending Labor Day Weekend...working...on my next real estate opportunities.It takes real time, effort, sacrifice, and money to be successful in real estate.

I assume you don't want to spend a lot of money on this problem but filing bankruptcy isn't free.  

Definetly spend some time networking with realtors, it will help you build your rep and will move your property much faster when it's listed.  

We aim to have $300-$500 monthly cash flow after finding a tenant.Here are the strategies we've talked about so far:- Re-invest 75% of it into another passive MF deal and put 25% of it into a buy & hold rental for monthly cash flow-Re-invest 90% of it into another passive MF deal and put 10% of it toward educating ourselves in REI (business expense)-Re-invest 70% of it into another passive MF deal, tithe 10%, spend 10% on ourselves, and save 10% Big questions:Do we form an LLC for our REI business?

From what I've seen it looks about 40k in Portland. 10-15k in rural Washington county, but Im not sure I found all the fees and I haven't found info for rural Multnomah county or any other city yet. rural means no city water or sewer so well and septic and if you don't have those U can spend at least 10 to 15k on a well and water system and septic 15k to 50k.. depending on soil.plus your 5 to 10 k in building permits.. then your ready for vertical.. so city fee's are usually cheaper.now place like Yamhill or Carlton you can find little funky infill and fee's there will be less than 20k.. maybe Banks Gaston etc.its tough for land here. 

CPAs and/or CPA software default to putting 365 in there no matter the reality, so you have to micromanage this.We spend a lot of time internally going over income calculations, and we do this for a living, so a full and complete answer is beyond the scope of one post.

This is counter to wanting to spend more time with family.

I want to approach him with 2-3 different offers so he sees I am trying to work with him. 7 Unit Building 2 Bed Room (owners unit) worth $4,000.00 a month2 Bed Room ($3,950.00 current rent) worth $4,200.00 a monthStudio ($1,850.00 current rent) worth $2,400 a monthStudio ($2,000.00 current rent) worth $2,300 a monthStudio($1,600.00 current rent) worth $1,800 a month 1 Bed Room ($3,000 current rent) worth $3,300 a month1 Bed Penthouse ($4,300 current rent) worth $4,700 a monthPotential for garage rental, Storage, and Laundry as wellCurrent Income $16,700    Potential Income $22,700  I know that the gentlemen likes to spend the weekends in his apartment and I want to give him an option for him to stay for a few years to make the deal interesting. 

My stepmother has done commercial real estate for at least 40 years, and not a day goes by I don't regret learning everything I could from her about real estate starting as a teenager, but the less time I spend regretting the "woulda-coulda-shoulda" , then the more time I have to find, facilitate, and proceed with projects.I currently work in IT for so I am grateful to work from home in a position where I can research, learn, and scout out potential projects while working my 9-5. 

Of course, I'd rather not spend that kind of money.