Namely, look for any leaks (we once found a bad water heater that was peeing all over the garage floor) and any electrical problems that may shock you (pun intended).

And, you're not in one of those turn key deals that seem to consistently work out badly.

The bad news is that turnover is generally more costly than my smaller places and it takes longer to rent.

It's a "haircut" because a "default" (as it would be considered at any other point in history or for a corporation) would have triggered the Credit Default Swaps (insurance on bonds) which would have been bad.

It seems that most of the bad applicants won't even fill out the one page background application and return it if they have a bad background, so far I've gotten lucky, but that is it I just feel lucky.I've been using www.e-renter.com/ for awhile now and it costs 37 dollars in which the applicant is the one that pays.

If there was a Hall of Fame for investors, Lonnie would probably be in it.It's too bad too that so many following this scheme did so as preditory dealers to the extent of having federal legsilation adopted to restrict the practice.I guess the best way to proceed is to make enough on your fist few deals, maybe sell the notes for cash and pay the fees to become a licensened mortgage originator and a dealer, otherwise you'll be limited to conducting business.BTW, Another similar "system" involves selling land, if it's zoned residential or can be used as residential raw land, it also falls under the SAFE Act.

Bad things happen to good people all the time.

Its been a very bad part of town for a long time.

Well I wish you would have posted here BEFORE closing them out.Length of credit history in good standing DOES affect your credit scores.If you have other credit that has a long history it shouldn't affect you that much.If however closing the 3 credit cards with 7 years of history you know only have a few credit lines with only 1 year or 2 of being open that is not great.In the end it shouldn't hurt you too much.When they made the new credit card rules last year or was it the year before credit card companies raised interest rates and annual fees from no fees.So what happened is the great credit people lost benefits because Obama wanted people with bad credit to not be taken advantage of.The credit companies simply restructured to make the same money.So A law passed that had good intentions but was misguided.The government believes when they pass a law people or companies will just take the loss but it never happens.So in the end these laws are just spinning wheels and not doing anything.I know many people who have closed their accounts once interest rates go up or annual fees are imposed.The downside is people want to maintain credit but some credit companies have been closing accounts if you don't use enough and they make a certain amount of interest off of you.It is getting rediculuos.

So, I don't believe individuals should somehow be held to a higher standard than businesses that makes bad investments.