Just thought I'd clarify the situation a little further.I think the rental market is strong here; the house is two blocks from the college (not that college kids are always the best target market, either) and just from driving around and watching FOR RENT signs and the newspaper it looks like there is a fairly high occupancy rate.Thank you very much for your quick response - I will continue to do research and figure out my options.Josh

These types of situations though very difficult do pop up occasionally.

How often do you guys have the seller get fired up that you are selling the property basically for more than what you bought it for.How do you handle situations like this.I am also wondering how often you get the hard money lenders to pay for the assignment fee, and how often the end buyer pays it upfront.Also, what percent of your assignment fee generally goes to taxes?

By having all of that at one bank t he can look it over and get a pretty good overview of my financial situation.

Ben,Can you give us a update on the situation?

Furthermore, I brought up the idea of setting up an intranet neighborhood website where residents could voice their opinion and stay up to date with the latest news and they flipped their lids.Anyone else have similar situations?

Ok my situation is, I have seen alot of info on wholesaling houses, but what about commercial properties?

You would be surprised what a couple of hundred bucks can buy you at a good real estate lawyer's office.I was in a similar, yet different, situation when I bought my boyhood home from my parents.

I've been trying to deveop exit strategies for them, mainly in the relm of refinancing the property after a tennant has been installed.I'm running into problems with obtaining financing for properties in this situation ,regardless of LTVs.

Sometimes ina divorce a person just wants to get away from the memories of a house that you were in with your ex-spouse, is that your situation?