Hey I remember dominos, flick the block of wood and watch the rest of them fall down*flick* New plan to clean mortgage marketFewer people can qualify for mortgagesDrives home prices lowerAppraisals come in lowerDrives home prices even lower

Yep many judgments never collect.Just like deficiency banks will go after a borrower sometimes and wait.With both types they just pay an attorney to file and record it.You leave it alone and eventually one of 3 things will happen.They will file a BK.They will want to buy a house or clean up the credit and will offer to pay part of the balance for a release or pay in full.So if the amount owed is substantial you pay the attorney to file and play the percentages on collection.

Good tenants like to rent clean, freshly painted apartments.

Each unit is 1bd 1bth rented at $400mo.The tenants would be very receptive to the idea of slight increases in lue of getting some updates and cleaning it up.

House needs very little rehab...hardly any cleaning.

I pay about twice as much in property taxes as a land lord then I would if I lived in the house.Just a couple notes to help you potentially clean up your analysis going forward.  

If there is mold in the bathroom because of their issue (not running the fan or high usage), then let them know that they need to clean the walls more often. 

If the vacancy rate is 5% and it takes 1 month to clean and find new renter the   % is 13.8% of gross rents.My minimum target for cap rate is 8%. 

You need to worry about environmental contamination, illegal dumping next to the gas station over the years, and leaking of gas tanks.It doesn't matter who caused the contamination the EPA will make the current owners clean It up.If it's a new build the seller should have a phase one completed on the land.

Vacant and clean.