Then, if you find a perfect undergrad who’s 26 and was maybe a soldier, sailor or airman at 18, and you were initially advertising for graduates only, you can reopen that discrimination door against you, based on choosing the 26 year old undergrad!

I suspect the above notice was never provided, meaning the tenant may sue you and the well known company as a co-defendant for the return of the deposit, or you may have a third party complaint against the well known company, if the well known company is not named as a defendant in the initial lawsuit. 

Christian Drake I would strongly suggest you establishing a Corporate Entity such as a S Corp or a LLC depending on your REI Endeavors.

Conventional is easier on the property.203(k) gives you the ability to roll future value into the initial loan by including construction cost.The downside is that you can’t do any of the work yourself and it must all be done by a single GC normally.

Initially I was thinking that I would provide the rehab funds and manage the rehab like I normally would, which would put me in 1st lien position. 

@Chad Clement What was your initial arrangement when you signed on with them?

Somehow, in his smooth rat brain, he thought that was the secret to making money in real estate -- getting other people to do anything that looks like really hard work with uncertain outcomes for you.It all put me in mind of a well-known passage from one of Theodore Roosevelt's speeches:"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.

The property is in Northeast Texas and I am self employed so taxes don't show strong income but have good credit.

The reason I chose Toledo is because it gets to my goal faster than most other markets; cheap homes with strong cash flow!

Unfortunately once a secured creditor becomes aware of a potential sale or refinance, they are not likely to compromise... unless the situation can be presented in such a way that this is a chance to get paid something rather than zero.The theory behind my initial comment is never wake a sleeping giant ... judgment creditors often forget to renew liens.