I am a long time reader of biggerpockets but a new contributing member.

They never pay attention anyway, and then show up with a sob story, or try to convince you they are able to pay etc.I hate having a vacancy this time of year.

Brooklyn is receiving international attention.

LOL Honestly though, that's great when people actually pay attention to our posts isn't it?

I've never paid any attention to a program/commercial/pitch that touted getting rich in real estate so I didn't even know that what many of these "gurus" were pushing was the wholesaling concept.

I have two concerns, first, $90k seems very high for the rent you are expecting, I am curious of your methodology behind that estimate, to me that means structural and most major systems need serious attention. 2nd, and more importantly, you mentioned a 203(k) loan, however, correct me if I'm wrong, but 203k loans have an owner occupancy stipulation, thus, one of those units will not be rented to a tenant but to yourself.

Joel SlayterI usually have to file a Notice of Default to get the borrowers attention.

@Joshua Dorkin and @Brandon Turner my literally multiple readers are yearning to see this picture of the stack of postcards I mailed last week!

That being from a law office will or should get attention, to the lender it's much the same as a payoff, give a cc of the letter to the regional bank regulatory authority, it's eye wash, but the question then becomes, "why didn't the bank take the payoff and allow the customer to avoid a foreclosure, damaging their credit further.....for what?"

And unlikely it will actually get that far.NED is Notice of Election and Demand, for our non-CO readers.