The homeowner can either take a lump sum up front, take periodic payments, or some combination.

Everything on a house has a life span and repairs have to be done constantly.In my state, if I have to issue 3 pay or quits in a one year period, I can evict for chronic late payment.

More than likely, after a short period, someone will be willing to go 70 or 75 cents on the dollar.

Could have saved me some time, money and energy.SOOO..just a note to the landlords of the world that don't sue for damages because we all know you'll never collect -It would still be nice to let the rest of us know...much appreciated.

the rest of it is a bit fuzzy for me so Mike_OH or Wheatie might chime in here.

Starting in 2005, I purchased and rehabbed 8 homes in the Greater Dayton, Ohio area � three have been sold and the rest are rented or under land contract.

If rents average $1000/unit, that's really excellent work.The problem with expecting 5% appreciation going forward is that we've just been through a period where its been MUCH, MUCH higher.

While i agree w/ the part about the mind, the rest of the statement is too general..

Hard to call a bottom, period, except in hindsight.

That means there will be a 45 day owners redemption period after the sale where the owner can still come back and redeem the property for the price it sold at the sale.