Even if they got the home done it would be a wreck within a few years and rents would be very inconsistent to non existent given the tenant matrix in those areas.. not what Morris states on his website that D class tenants are just happy to have a home and are thankful to you the big investor for providing them a home.. nothing could be further from the truth in any of this. the Model is broken and those who invested in it just did not realize the reality of it or the logic.. they just figured a 50k home would be as good as a 100k home.. 

I can understand your logic and reasoning for quitting.

@Ryan Keenan, I suggest you re-read the responses you got two months ago:- https://www.biggerpockets.com/forums/50/topics/397...I don't see that your question on this thread follows that logic.

The ability to pay is now a requirement pretty much in all lending, otherwise it can become predatory, what is considered predatory is not always logical and assumptions should not be made.

I figured that since I knew the foreclosure process, and knew the lending processes, and I knew what could and what couldn't be done, I'd just do the logical thing and take over the mortgage.

Like I don’t get the logic.

I am a very forgiving and logical person - the voice on the recording was "computer voice" reading the exact listing.

My logic is simple, people need a place to live so that is why I like residential.

I will post the details of my seller financing property and my logic behind the numbers if its  helpful:Purchase price $175,0005% down, 5% interest, 15 year amortization with a 4 year balloon paymentThe idea is that at that 4 year mark, I needed the current amount of principal due on the mortgage to be 75% of the current value, playing it safe.

Now, the reasoning used to justify this (notice I did not use the word logic), is that the municipality runs by taxpayer dollars; so if municipal utilities go unpaid, that would place an extra burden on the taxpayers (i.e. higher taxes).