When you vendor finance a house how often does the debtor forfeit the mortgage?

LOL Bill,If Ben's region is even approaching ours, there are still properties out there with room for performance improvement and forced appreciation, it's just that the Vendors are expecting you to pay them for the potential results after you do all the work to improve performance, rather than for the value of the business as it currently operates.

RentPrep is on my short list of vendors I'd like to give a try to in the future.  

I simply call it vendor proceeds.

You need a strong understanding of human nature to manage the contractors and other vendors who might try to take advantage of your lack of experience.

From just not knowing the market to being exploited by vendors, it could be a rough ride.  

While that one may be based on larger lenders, they often have a lot of great content about the lending market, regulation changes, key industry events, introduction to vendors, etc.

On the same track as personal loans, there are hard money lenders, but that would carry a high cost as well.I'd also suggest seeing whether the vendor-seller of the furnace would consider doing a purchase money security interest/regular security interest on the furnace/whatever equipment you are getting.

We have a vendor that installs Linear's eMerge System in all our properties that allows us to remotely manage access control.

I feel I have enough background in construction and vendor management and most important I'm very excited about the market and what I see (or at least though my eyes) as a great opportunity.