You didn't explain that his nephew was living there and had established a household and life there.

Generally, an ARM should be considered for short term held properties, dumping them prior to adjustments in interest or where rehabs can raise LTV to leverage equities established.

First though, you have to get a JUDGMENT against the departed tenant (or the debtor); that judgment establishes the amount of money owed.

Land is at a premium, if a person could find any, and older homes in established neighborhoods to remodel are the standard.

If I'm going to gamble like that, I'll go to Vegas.

Scott Jay, that being the case you are going to be competing with established, knowledgeable, experienced wholesalers.

Daniel Patrick That's a tough question, vacation rentals can be a huge gamble, a huge hassle, and a lot of it is based on luck.

I've picked up tons great info on direct marketing approaches, software recommendations, 50% rule, property management techniques, legal concerns, sales pyschology and much more.Without counsel purposes are disappointed: but in the multitude of counsellors they are established. - Solomon

Effective 12.24.17 the cost for a VANILLA LLC is $150 to establish and a SERIES LLC is $400. 

The difference in savings could be viewed as an investment over time and your break even point can be established if the are no claims.