All,I have a rat problem that has been in one of my houses for awhile, unknown to me and I have to get it cleaned up.One company I'm working with says I need to remove all the insulation, droppings, clean and treat and reinstall new insulation.

Why not stretch out the loan and remove the balloon to make even more money.@ 9% with a 10 year loan he will be paying roughly $880/month and will pay you $110,000 in total.

Your far removed,, and if your mother is ONLY 60,, you got a long ways to go before you may inherit it..don't throw dirt on her yet:))If you inherited the property after her death, any and all expenses would come out of her "estate" to cover the cost of the mortgage,, you could be required to  sell the property to cover the balance due on the mortgage note., or you'd need to qualify for financing on your own to cover the note. only way around this is if your name is also on the deed before she would die,, but this makes you responsible also for the debt as co-owner so if you apply for financing somewhere this is gonna reflect on what you personally want to buy.. 

Also saving you from loosing on appreciation and equity.

I was loosely following your projects when I lived in Charleston (I graduated and moved last year to New Orleans, another similar area you might like-$250,000 a lot) You had just built a home for one of the southern charm characters.

It's a really good deal and I hate to let it go, here's what we've come up so far. they find the money (I'm guessing unlikely),Get the bank holding the judgment to take less, or get the 1st position bank to remove fees and interest for non payment, hold a note to a very qualified co-signer (if I can take first position on their deed)Anyone else have other clever ways they've dealt with something like this?

24 unit 3 buildings 8 one bedroom units each Appleton Wisconsin asking price $987,900Total rent income $142,718Yearly advertisement $500Yearly tax $18,431Yearly insurance $6750Utilities yearly $18,409Annual grass and snow removal $666Annual supplies in repairs $1725Total expenses $46,427NOI of $96,291Giving this a property Rate of 9.75%

Howard,Seems like my last post got removed so ill make it short and sweet.

You may be required to remove a unit, go through a zoning variance or who knows what..... do your homework! 

Sometimes they will if you pay cash, thereby removing debt service from the equation.