$1320 yr prop mgmt---------------------$13080 Yearly Expenses$13200 Rental IncomeNet = -$120 per year  (essentially a break even)--------------------------------------------------------------OPTION 1 - refi, spend $3,000 now, and loose $2500/yrOPTION 2 - fire sell - spend $50,000, and sellOPTION 3/4 - lease option / rent to own...my least favorite...OPTION 5 - spend $50,000 and refi for break even cash flow

Asbestos has to be loose and airborne and even then you have to be exposed to it over a long term.

I admit as a landlord I dont feel comfortable having a third party go in and out of the house when the tenant isn't even in the state any more, family or not, and I am surprised at how loose contracts really are ...

This will cause the Lender to loose more money.

However things are changing and ownership is no longer the only factor.Although RE prices are more affordable, stringent lending practice, uncertain economy and RE ownership "trauma" will eventually broaden the rental market.Another issue that many people learned is that rental provides flexibility.If you bought your house 4-5 years ago and your PITI is $2,000 you are dead in the water should you loose your job or being transfer somewhere else.

If you are loosing the current tenant, I like to line up a good rent to own buyer on a 3 year term that is subject to moving in once the deal closes. this will give you a second hit and allow you to grab another 3k down on top of your assignment fee.4.When dealing with the seller, from the beginning you need to explain that you represent a group of investors and you will need to get in and out to make sure you are all lined up with a new end user prior to closing.

Another thing to consider is how much do you stand to loose in regards to how much equity do you hold versus leverage?

You buy for 15k on a note valued at 40k left.I am not getting technical on the numbers and this is a very loose example but just to see how it works.I do not like residential notes because of all the government regulations to HELP people that were enacted.

Recessions are loosely defined as two-quarters of stagnant GDP growth.

If you just charge them for the bandaid fix now and loosely discuss the repair in spring, they may take the next few months to find a new place and hope to get full deposit back.