Seems like its always wise to check out what they are requesting.

Price wise, it's competitve as everyone is now, no Huge upfront cost, about a $100 or less depending on users.If your looking for a lower cost option but still a great back office, I'd go with Karma CRM it's FREE as of now.

Also forgot to mention if this is a primary residence bought in a certain period of time and it forecloses the bank has to issue on the senior loan a 1099 instead of a pursuing deficiency.With a 1099 they will pay not tax on the phantom gain for personal residence if certain conditions are met.They can also file an insolvency form to wipe out any gain if they qualify.Saddling a past homeowner with a promissory note will meet with limited success.When the owner does a deal they want to move on and put it past them and not be reminded of it for years on end into the future.Credit score wise short sale and foreclosure are pretty much the same in point drop.A difference with a short sale is being able to get a loan in a few years versus a foreclosure where some lenders will penalize the seller and make them wait 5 to 7 years before getting a loan again.So all depends on the short sale and the seller involved with how to approach it.

I have a deal and they slid that one in on us thinking it was typical fannie mae addendum, they had 10% earnest money also, I don't have any good advise other than there are plenty of good deals out there and let the deed restrictions "rot" any maybe they'll wise up and quit there "crap".

The unwise investor says that the property is paid off quicker, while the wise investor who took the 30 year is nowhere to be found because he is enjoy a nice vacation with all the extra income he gets from his rentals.

Would this be a wise investment to use our IRA funds for a down payment?

You are wise to have purchased in a nice area.

@James Wise - I don't use my full name because I may need to ask a sensitive question about a tenant or my partnership or one of my contractors or a deal.

60k at the age of 25 is a lot of money, and my hope is if I invest it wisely I can make something of myself (be it as a landlord, or another business).

I doubt Rich Wise is here to pull business out and many landlords don't expect to find properties or tenants here.Someone said BP was much like a CE course for investors, if that is the motivation and they are not really seeking a business relationship, the profile may not be important to them.While it seems to be assumed that everyone is here to make business contacts, I doubt that is really the reason for many.