It has still not been repaired as the owner was not prepared to pay the $100 excess.

The attorney will move forward once the agent turns over emails and docs.Right now there seems to be a settlement offer on the table from this buyer.Now I have in my possession a settlement offer prepared by the listing agent and submitted to the buyer.HOW DEEP DOES THIS RABBIT HOLE GET???

The learning curve that I need to get a firmer grasp on is the demo, and lot preparation.

And you come prepared to bid the full amount that the first is seeking, PLUS what your winning bid on the second was (i.e. your bid at the previous trustee sale).

Don't call the tax preparer, don't call Section 8.

That way, when (probably not if) you have to sue to get recover any damages, you have good records to show a judge.It's sounding fuzzy enough for me that you should start shopping for another property manager and be prepared to cut this one loose.BTW, what sort of contract did you sign with the manager?

I have not ever been sued, though I have heard that it is very uncommon to be a landlord for a long time and not be sued, so I am preparing for that possibility and hoping it is just for something small like a tenant who disagrees with their security deposit withholding etc.

I have read a lot on BP and elsewhere and learned that the biggest mistake real estate investors make is not being prepared for major expenses that come up with owning a rental property.

This said I have not done wholesaling just preparing to.

Developers are the ones that go in with the raw land (before anything has been done, prepares everything for a subdivision or to get the property to a point of doing the type of project you're planning (install the utilities, put in streets, etc.) and do all of the work needed to bring it to the point of being able to build something on it.