He mentioned new investors who can't afford to have contracts written from the ground up for rehab projects.

Bryan not a chance.In some micro markets things have always been stable and have the least problems to work through and are the first to recover.This has already happened with markets that didn't experience much of a dip to begin with.With 700,000 properties of shadow inventory and 4 million more foreclosure filings in the works I don't think we are anywhere close to being out of the woods.What would create a partial turn around is if the interest rates started rising and went into the 6's.That combined with the summer months would make many buyers jump off the fence because of fear of not acting.That would make the banks release more property in slow waves and get rid of some of the backlog in many areas.Most home builders won't start new ground projects and get permits until they see the bank supply going down.They will just work on custom one off builds for buyers who have cash.In my market I think we are a few years off from recovery.

I actually have a deal in Mobile like that that I am trying to get off the ground where using the rental income on a 3/2 leased by the room nets an additional 40-50% monthly income after overhead.

A middle ground, based on more factors than whether or not a police officer can be hired who meets the bare minimum requirements at the lowest cost (minimum wage, particularly with this job market?)

Seems there should be some sort of middle-ground out there.

Ugh.Do you have grounds to sue for punitive damages, as the first buyer is essentially blackmailing you by not allowing you to sell unless he gets his EM back.

-Plus side is insurance can be lower for brick buildings as they won't burn all the way to the ground -Is the building in ok shape?

The outlets are mostly 2 prong and it appears there is no ground wire.

Its my prerogative to make sure you've got a great experience here on the site.Just kidding . . . thanks for joining and do let us know how we can help you get your REI career off the ground!

Good job, this reminds me of homes that I have built from the ground up a few years ago.