Higher end property like the one you talk about is less risky and collections are easier but to manage that debt on negative cashflow seems more risky then its worth to be in a great hood.

Easier to get a price drop, if warranted, then as opposed to near the end.

I did not check the title before I closed because I thought since it was an REO the title would be clean.

Did you leave the home in broom clean condition?

Its easier to cut costs when you are the owner and you are the entire board as well;) The words Enron and Madoff are other reasons i stay away from the paper asset world.

However, Lexis also makes it easier to access UCC filings (public notices of liens granted to secure equipment financing and the like) - which may be of no help in learning information about LLCs involved with real estate.

Also, since this is also a matter of principle to me now, can we add the costs of time spent advertising, getting the locks changed again, cleaning, and whatever else is an inconvienience since we bent over backwards to help them to be able to move in...

The number one thing to do now is to get the property cleaned up and re-rented.

That gives the buyer a chance to clean up their credit.

With deals like you describe, Gail could achieve her goal with about $1 million.Now, this is a lot easier if you, the properties and the bank are all in the same area.