Instead of making a deal based on the facts as of today, these deals are done by assuming performance in the future, assessing the likelyhood of a prudent person acting to cure loan qualification issues.

Assume the worst for repairs and actually getting the current tenants out and make your offer based on that.

You should call the taxing authority, since they are financing the arrears, there could be ownership or tenancy requirements, might see if you can assume that schedule.

I'm assuming you haven't actually seen or heard the tenant do any of the things her neighbors are saying the tenant did?  

And let's say that in the other 15 sessions, you lose $50K total.A logical person would assume that you can claim $0 in gambling winnings over the course of the year.

Last year for example I had 20 different W2's and 2-1099's and I assume he will be in a similar situation this coming year as he just left a long term employment position for the greener fields of freelance.

I assume another 300 a month in taxes and insurance.865x12 without calculating property depreciating over time / 70 000 = 15%So about low 10s if you throw in repairs and depreciation over time.If you buy this thing for 50 000, your return will be even better.

Since the language for the 1031 exchange specifies that you must exchange "Like" properties-business property for business property and rental property for rental property and farm property for farm property-are you assuming that a personal residence held to increase in value has now converted to a rental, but not a business property or other property?

Assuming it is the escrow and is 30 years and you could pay off your send mortgage, and again assuming it is still worth what you paid, you could get a new 30 year mortgage of around $196,500 and shave about $400 off your current payment based on today's rates.

Hey Scott, I don't specifically know the Seattle market but will assume like most metro areas it will be similar to where I live in San Diego.Most major metros like that you will not be able to effectively cash flow.