Being a major storm I expected some delays getting an adjuster on site.

The goal is to make an upfront profit, a monthly profit and a future profit without any money down or using any credit.Each state has different laws regarding Lease Options so make check to make sure it is legal in your state and you are using the proper contracts, also the benefit of an escrow/title company is they will be able to guide you but make sure you work with an escrow/title company that is familiar with The Sandwich Lease Option.Remember to be successful action is the key...Marv Rousselow

One of the payment was negative, one was interest only, one was princal interest, etc... the 5 year fix has expired and now it is adjustable... her payment now is $2700 per month PITI fully amortized... my question is if i take this house subject to .. i am fine paying $2700 per month but becuase this loan is not fixed... is this a good deal to take out?

Those who engage this community in an effort to learn and/or do deals will reap the benefits.

I wouldn't count out partnership as long as I team up with a 20 year vetern general partner that I trust, and I can be a limited partner with cash flow benefits and an equity stake in the building.Right now, I am focusing on my career in finance.

You might as well make an annoying situation work to your benefit!

If that is the case, perhaps the answer is to build better systems and better relationships (or more of them) so that you can increase your local deal flow.Flipping out of state without an actual partner with boots on the ground is a very tough challenge and only for the very experienced investors who can handle and adjust to the problems they WILL face.

Bryan, I heard one of the benefits to banks with these refi's was that they wouldn't count toward their default numbers, so actually better to refi them and get them off the lists.

That would be individual benefit to the homeowner and forced loss on the lender.

I've been told that an LLC is the way to go, so that we can protect ourselves as individuals if something happens in the rental(s), and also to get the best tax benefits.