Jon,If you read the whole $200,000 report the FDIC probably paid to the authors... what it all boils down to is that people will gamble the rent/mortgage/lunch/bus etc money A LOT more often than you think...I live near several casinos half of the year and see the results all the time....I believe the report.... do you?

A good lunch is a great way to bribe me... ha ha ha...

No reserves with actual monthly expenses running around $2800 split between 10 units on an 8 yr old building. $1500-1800 of it going to gas and electric for the pool area.Add the Agent telling Me to expect a hold time of 3-5 years, for the market to come back.Sounds like to much exposure.

I have co-worker that wants to go in with me on a few small rehab projects and wants to split the profits.

being a realtor carries costs as well, annual e and o premium, membership to local board of realtors, subscription to mris (mls access), as well as CE to stay a realtor, and commission splits that get a 1099....keep it in mind when considering commissions etc.

Always wear a respirator when working with mold.Is there a way to add a 2nd bath to the master.....somehow splitting the existing one?

From then on I told them I was too busy to do floor time, they were ok with that because I was buying, building & selling my own properties splitting the commission with the office.

@John Chapman So you were listening to me during those lunches after all?

Tim we need to get together for lunch soon.

@THIYAGHU MUTHUSWAMY  My dad owns an large old farm house that is split into a couple units and runs on oil heat.