All deals begin as dreams but I have neither the time nor the inclination to analyze lots of deals for novice investors.

I'm inclined to pass on the state entirely if it's true.

That is what I will do, and is also my inclination as well.

It obviously doesn't benefit the lender on the bad deal, but I see your point that it might benefit everyone else.That said, the borrower still doesn't win because after defaulting on the deal that went bad, they have a very steep uphill battle to survive in the business as other lenders become less inclined to trust a borrower that defaults on their obligations, recourse or not.Switching the scenario around...non-recourse loans are a huge benefit to the investors when borrowing on a property where private investors contribute equity.

A free lunch can be a very enticing offer to many people but those who have $35K-$80K and the inclination to invest in real estate have no difficulty buying their own lunch.

The balance is due whenever I have the means/inclination to repay it (although you will incur interest, so talk to your ins. agent).2) Even if you plan to work in your off-time from your day job, it's still a full-time commitment.

I am inclined to think some of the real details here are being kept from the OP.  

He would have been more inclined to make a more confident decision and close.

But if these are good tenants, I would be inclined to make that repair sooner than later.

At $70K there was no profit, in the low $50's I'm making out as shown above.Had I jumped at any of the marginal deals I've looked at the last 3 years I might not have the time or inclination to go for this package.