So I agree with you that not everyone is a crook, but that is something to look at in the due diligence.I really do understand dirt out of state, I have no idea why someone would choose that over doing properties locally, as if they don't have any properties locally.Seems like all you're doing is going on the hook on a property you are relying on someone else to manage, etc. there are better ways to invest.What happens if your property manager in Tim-buck-too, 800 miles away gets hit by a bus?

One thing is to get to know your market intimately.

We caught it in time on a yearly inspection.

Thanks for chipping in, Tim.

Most investors hold properties for many years: 10, 15, 20+ but ROI is a snapshot of the property as it is at this moment in time, not what it's likely to be in 5 or 10 years.

My general points in dealingwith my agents are: (1) Try to get from them the facts I need rather than opinions.(2) Make clear to them what I want them to do for me.(3) Be generous with them and in time your generosity will be returned.(4) Think more about a long term working relation than immediate interest.(5) Take more responsibility for actions and do not blame the agent for small errors.Recently, an agent of mine send me an email saying a nice piece of propertyjust hit his desk.

As I said previously, this structure has been around for a long time but is this what the ‘market’ allows at this point in time?

Hey Brandon, thanks for the invite, unfortunately I was working late and didn't get the message in time.

Chris Martin gave a pretty good explanation; I would change the word "prior" that he used to be the words "superior position"; a subordination agreement can come later in time, but change the lien priority.In PA, almost every plaintiff attorney's bid starts at "costs", so that is nothing significant to even consider; the minimum bid the sheriff will accept is one that covers the costs of the sheriff holding the sale.On the "free and clear" sales in PA for municipal liens, the buyer gets the deed for the bid amount, with all liens and encumbrances of record being considered satisfied; this is he result of a judicial decree that you can find in the case docket at the prothonotary (except in Allegheny County, that title was merged into some other gov't job).

It seems commercials are more focused on time as a priority and are willing to pay top dollar for the right construction team that would get the job done right and in time.