I assume it's listed as a short sale, and that's probably the best exit for friends.

A lot of people are under the false impression that management companies assume the liability here, or that their umbrella policy will kick in for their neglect or lack of construction knowledge.

Ira Smith I assume he checked the Broward property appraiser's site for a different mailing address, as they have the same doc.s online that we do.

buildings you will have a hard time getting that 70% LTV loan from the start. 70% of purchase price, assuming they are at least partially occupied and the purchase price is supported by the income, maybe. 70% of rehab in addition would be tough.

I would assume the two methods given, though, would set a bar, and other methods would have to be similarly invasive.I would not expect this would be done right up front.

3) Assuming one of those options is actually possible.

Tyson, first you have to activate your license by affiliating with a broker (I'm assuming you have a salesperson's license).

I assume the loan re-modification will probably bring down the value of the house to where the comps were-- $40-50K and at the same time bring his payments much lower.

Assuming you take the buyout and purchase another property for 25,000 and rent at 2% of acquisition, your net rent after expenses and reserves (50% rule) is 250.

I would assume that before you invested your time and money in getting your degree, you researched job prospects for that degree.