Without knowing a lot more about your skill level and the issues behind the delays and overruns, it is hard to know for sure, but it certainly seems that you need to strongly consider hiring professionals immediately.

Plus keep in mind that cashflow is not the only measure of return you still have equity buildup, tax write offs and appreciation.With all this financial mumbo jumbo being said I totally agree that cash on cash return is the only important return because all those other measures of return are delayed and wont be realized until you sell the house or do your taxes.

More likely, it was just a BK filing for the sole intent of delaying the auction sale, won't be followed through with, and same result...bank reschedules sale date.

I agree with David, and would add that with no mortgage holding costs may be minimal, but you might consider holding losses in your decision.

I've been on BP since July 2012; however I delayed getting around to my formal introduction as life at the day to day got in the way of my progress.

I often see this made clear in the short sale package, and if you submit multiple offers to the bank, it will cause confusion and delay...

Unfortunately, what Bill said is not true in California.According to multiple attorneys I asked, a lease cannot be bk-proof, even prior to the lease being signed.A signed statement from a prospect also does not stop the landlord from being named as a future creditor.Basically, the old rules still apply- screen well to minimize risk.I met the prospect today, and she told me her husband and son just went to an MLB baseball game.Yeah, now I know why she's planning to file for BK.

A lot will have to do with the area it is in and tenant base type and how heavy collections will be getting the total rent every month.A full time maintenance person can turn the units much faster knowing all the nooks and crannies as well as all of the mechanical systems etc.If you go smaller say 20 or 30 units you run into having to call someone every time there is an issue with the property which can get expensive and you also delay repairs that turn into high dollar repairs instead of small things fixed right away.

But I would be peeved that they don't have their own inspector; the fee should be minimal in that case because you're just paying for a clerk to file papers, and not for somebody who has some training and thus gets paid a bit more.

Within the loan guidelines the criteria will specifically call for a minimal contribution from the borrower.