A foreclosure afterwards does do some further damage, but the majority is already done.If the property sells at the foreclosure auction for more than the judgment amount then they would get the balance, assuming there are no additional liens..You will hear a lot of untrue and exaggerated claims and ideas in guru “training”.

Hi @Alison CrawfordA few additional thought to my earlier message.- 3-4 units still puts you in the residential category- 5 or more units is commercial residential and most lenders will expect you to have experience and will generally have more restrictions on the lending process- A 10+ cap rate in the Boston area will be extremely challenging to find unless you are planning on a massive value add or redevelopment- No idea what your personal financial situation, but a 3 family in Worcester versus a 20 unit requires a very different upfront financial commitment.

The foundation company is now wanting to charge an additional $3500 to put in 4 more piers, not to mention I will have to spend another $4-$6k to repair and restain the hardwoods, which can't really be done while we are living there. 

As a bonus, I just started a new policy this year, that anybody who buys the current year's book always get the next year's ebook at no additional charge, or the next year's hard copy book for $40. 

I am definitely intrigued by the approach, and would certainly run an additional campaign to try it. 

And other investors are often scared of properties with major issues, so even other investors are often not competition for the properties in really bad condition.In other words, most cosmetic repairs don't pay for themselves in value added to the property; but, other types of repairs (structural, additions, basement finishing, etc) can often more than pay for themselves because there is little competition and the investor can pick up the property for a great price.2.

However, it depends where you both are on your risk-tolerance for taking on additional debts while you have student loans that have to be paid no matter what.

Lease states:"In the event that any payment required to be paid by Tenant hereunder is not paid within Five (5) days of when due, Tenant shall pay to Landlord, in addition to such payment or other charges due hereunder, a "late fee" in the amount of $50 and $15 a day for each additional day that rent is unpaid.

Ask them not to use it, advise them not to use it, charge an additional deposit for using it, somehow disable it, or get it inspected, install the glass front, and hope for the best???

In addition, where I live the temp drops at night due to proximity with ocean (especially when not humid).