After taking over - increase your income and reduce the expenses and turn it into the proverbial "cash cow".

I would use about ten percent to start, meaning that I would reduce the total amount of rent you expect to collect in a year to 90% of the total possible gross rent.

The new subject purchase wouldnt qualify.Most reduced doc high ltv loans have vanished as well.FYI - Full Doc requires that you have at least 6 months of the expected mortgage payment, inlcuding taxes/insurance, verifiiable in liquid assets seasoned for 60 days.

The transaction will drastically reduce monthly expenses and increase cash flow on the property.

It's a huge medical field.

.- Activities that would allow you to reduce operating expenses and increase net operating income.d.

I stand by the statement that PM is a cost center and it is focused on reducing expenses and operating efficiently.

I would think any smart investor is going to want to get the bank to reduce the loan amount anyways.

They had great payment history for 14 years until this medical emergency put them behind and they have a Realtor friend who has already worked out the short sale with the bank -- they just won't let him buy the property because he is such close friends with the owners.

Hopefully you are organized and have reduced the materials down.