In my experience, when owners are delinquent and the cash flow to a condo dries up, there is a slow death cycle.

Did you do anything other than write your name on a few pieces of paper and receive a set of keys to a safe, warm dry place to live?

With the potential for the ARM to hit 10+% (with 6/2 caps) at year 7(worst case), the cash flow could almost completely dry up.I'm going to try to line out alternative financing as Jason suggested, but I'm leaning towards the higher down payment to lock in 30yr fixed financing if I only have these options to choose from.Thanks for the input,Mike

You don't need an MBA, but you do need to learn really how the business world operates, it's not how most people think, at least on here.Then pick your industry, here, you have chosen RE.Basic knowledge is dry, unexciting, when you read it it's hard to see where the money is or how in the world does knowing that a legal description "closes" or what a certain deed of conveyance does to make you money.The reason most have problems trying to follow some guru path to wealth is because they don't understand the foundation that the strategy is built on.In basic business law you'll learn what an endorsement is, what an assignment is and the different types of contracts there are (not talking RE contracts I'm speaking of unilateral and bi-lateral contracts).

None if this really points to a proven business plan, 100% speculative.If the market turns in the next 5 years are you OK holding indefinably, obviously you would need the capitol to carry all the costs if the economy turns, or legislation is passed causing the rental as well as resale market to dry up.

These are moral and ethical issue of course and we all run on a different compass.the wholesalers in our market here in PDX the bigger ones anyway they close.and of course they are all licensed brokers.. ( again the bigger ones.) the wholesale companies I have dealt with in FLA are licensed.. but many are moving from that model as inventory dry's up.I personally like to shoot and hit what I aim at...

He gutted out the entire 1960s studio, opened up the kitchen space area, moved the gas stove line, installed new dry walls, new sliding doors in the back, new water heater, etc.  

So until your weather warms up and dries out, it doesn't matter what the price is.I'd emphasis the river a little more strongly.

The majority of the slips are in the dry dock storage; no boathousesThe facility is fully leased with a waiting list.

Just read an article that said the inventory has really dried up in the DFW area -- more buyers due to better interest rates, plus investor, plus a severe downturn in the number of foreclosures being stated as the causes.The article did not mention when or if it is expected to turn.