He is excited and obviously I am excited to make money!

How's that for cashing out and taking the hit.I'm not sure if it would work though because it obviously relies on you being able to qualify for the loans in the first place.

After spending money fixing up a property, I obviously want to make sure the tenants occupying it are not damaging or tearing anything up....whether accidentally or deliberately......or worse still, using my property as a front for some shady illegal activity    (take your pick on that one....the illegal activity that is).I also want to make sure I am on top of the stuff that will break down due to normal wear and tear and stuff that needs regular maintenance.I also want to make sure the tenants are doing their part in up keeping the property as necessary....mowing lawns, shoveling snow from sidewalks and generally maintaining a reasonably clean interior and exterior for their own good and mine.If and when the tenants do tear something up, or something breaks down due to no fault of their own, unless it adversely affects their daily routine, I would think that they most likely would not report it.

The asking price retail is more obviously but I am fairly confident  if we could make the deal at the above price and be ok. 

Obviously too late for that on this one.  

Even when we disagree and they were obviously wrong i've sometimes had to let them win since the cost was minor.   

Obviously, I like loans and think they are a pretty good asset class to spend money and time on.

Obviously, a regional or national lender does the trick as well.

Ultimately I just failed to account for a lot that should have been obvious but I mentally discounted on my walkthru.

For example - When I moved to Southern California, I applied at one cute house, that had been offered for rent for 2 months - so, obviously it either didn't fit most tenants (only 1 bedroom) or the landlord/Property manager was too picky.