If the property is performing as expected, the tenants are good and consistently paying rent, and you are not over leveraged, then it is basically doing what you bought it to do and I wouldn't sell.

We invest in non-performing notes in OH and IN.

However, if you have another property that has enough equity in it to perform a cash out refi on it then most lenders should accept that form of creativity as we will.

What happens if you need to perform some plumbing repairs?

@Steve S. as an investor we need to have the ability to perform a fairly complete, but not extensive property inspection.

The 10% rules are good back-of-the napkin numbers if you don't have real data, but any TK provider worth your time will have actual numbers for you to look at based on their portfolio performance.

I recently spoke with a title attorney who told me something similar - evictions are typically performed in small claims court.  

I also am utilizing a 401K at my work currently with a full 6% match (contributing 6% to take full advantage of the match) so that will continue to grow over the years as well (10K currently and performing well in a target date 2050 vanguard fund). 

My main point is I have spent the last 20 years doing deals up and down the Mississippi valley from Chicago to Jackson MS  B ham  ATL  Orlando Charleston you name it.and when you get into a rent to own scenario in those areas its generally lower end areas trying to cram renters into owners.. there is a company called NACA this is their mission helping people who are credit bruised or income challenged get home ownership and its a process. you should check them out.but end of the day like I said worse case you just have a rental.. you just don't want to base the model on having to cycle cash I have seen a few companies try this and when the people did not perform their investors wanted cash back it was not pretty.

Hello BP World,I am looking to purchase performing or re-performing notes with a yield of 15% or above.