Is he/she unwilling to spend anything on his properties because he/she is out of balance and won't respond to basic human safety concerns?

Nothing upsets the delicate balance of multi-family living than when tenants find out that the folks in Apartment A pay $50 a month less than they do

Get in with as little out of pocket as possible and then take the balance and attempt a flip.

Interest caculated daily to an outstanding balance can cause different amounts, if interest is compounded and made a part of principal on a daily basis, your loan may not be in compliance for a residential property.Sounds you didn't get the type of loan you thought, I'd certainly investigate the note, your closing documents and especially the APR.

Having reviewed her credit report with her, she, in 26 years of credit history, had NEVER missed a payment and had ALWAYS paid more than the minimum on her balances.

I'm sure it could be done, but You'll need to be prepared to cut a check to the mortgage holder for the entire mortgage balance within 30 days after You receive that one letter they send out, calling the loan.Then the next move would be an emergency 30 day close re-fi, and then having to explain to the new bank, why You need to replace the existing mortgage.It may be time to rethink this plan.John

Third, calculate or ask what his outstanding principle balance is.

Normally the investor will have to make this attractive to the PMI Company by placing a large deposit towards the purchase of the property.If the lender sees that the borrower has equity and is making serious efforts to market, the property the lender will generally delay foreclosure for a reasonable time to allow the property to sell.The lender will probably require the borrower to make full or partial payments during the marketing period to keep the overdue balance from growing.You as an investor can front all the cost as part of your purchase agreement.

That's how much equity you should have in each LLC.Some people feel that having 4 properties per LLC is a good balance, but to each his own.

I have had the card that I am rolling the balance onto for about 4 years now and always paid it on time.I am wondering how it will affect my FICO score to have 13K of credit available to me, my balance will be about 6k.