@Colin Yang quick answer, stack paper and educate yourself!

Mortgage defaults have to sky rocket.. and his position was ( and I think its pretty common knowledge) is that with the changes in mortgage lending rules  IE no sub prime  No liar loans etc. that the bad paper has pretty much flushed through the system.. there will always be defaults as we know ( Bruce participates at the auctions I believe).

Electricians can buy the wire they like.But I would never let a GC buy or choose the appliances, carpet, flooring, light fixtures, faucets, trim, doors, toilets, etc.

Andy, You can write them checks so there's a paper trail.

If you are simply replacing the tile/toilet/tub in the bathroom but keeping everything located exactly where it was before, they don't require permits. 

Best of all worlds for me - I know it's being paid, I've got a consistent charge to budget for, and the tenants still have motivation to let me know that the toilet's running.

San Antonio has HEB which I am sure doubled profits on toilet paper and hand soap alone this year.  

The cold line feeds 2 sinks and a toilet at 3/4 line but drops to 1/2 right ar each fixture you cant go back to the meter and run all 1/2 to those same fixtues.

They also charge $50 per application, which is fine.I really don't want to have tenants fill out paper applications and then scan/email or fax it to me.

In this case the paper trail would unravel quite quickly and both parties would be in jeopardy.However if the seller were willing to put the whole 4.5mm into a new property worth at least 5mm there should be ample equity to then take out an LOC or other debt instrument against the new property.