I'm a little unclear on the actual process of having the interest in these notes assigned.I know it involves an basic assignment of note, having the named-insured on the insurance policy changed, and notifying the borrower of the change.

I'm in TX where the tax and insurance are crazy high, and I doubt if mine have exceeded that.Selling costs.

OK, lets be generous and assume your expenses, including vacancies, insurance, taxes, and all the other stuff mentioned in other threads is only 33%.

My background has been with accounting, management, finance/insurance and sales in the automobile and motorsports industry.

I am scheduled to close in about a week on a short sale with bank approval on both the first and second. ( both are through the same bank) But now I am being told that the mortgage insurance company for the 2nd loan is saying that they never approved this.

I don’t know much at all about insurance for investment properties.

Taxes and insurance run $1100/yr.Rent goes for $525 and should be ready in mid May.

Only taxes and insurance.

There are many more expenses than just the taxes and insurance that are usually included in your payment.

Such as his insurance number and others that he has done business with.This way he holds all the money in his escrow account and can not release it unless it has been authorized by you.These are the kinds of situations that make people sour and untrustworthy of the legitimate investors.I am truly sorry to hear what has happened to many of you, but chalk it up to the cost of doing business.Douglas