Its a safety mechanism.

Even with the low number this deal has potential depending upon the condition of the unit.Some basic questions that I have would be:1.

That's a usual and customary basic real estate approach to share title interests while operating and phasing other title holders out of ownership.

(at least in my business model.)It is understood that the 50% rule has shown validity, what I am saying is that the your expectations of cash flow must be changed if you have others managing the property, not that the basics of financial rules change.If you are a backyard investor buying three properties that cash flow $200 a door, and you enjoy the work, in theory you are making $600 a month in income, and having fun doing it!

I'm looking to build a basic website and was looking for some suggestions on how to get started.

I hate to sound like a jerk but I can't help but blame the homeowners mostly; I'm sorry but don't take on a debt if you cannot pay it, or do not understand the terms of it, this is so basic.

Basically, the main reason to be doing this is to get OO financing as opposed to an NOO financing/investor loan.

They basically outlined word for word the "double-close shortsale" and said they consider that felony fraud.

Had a full service PM who basically disappeared after setting up and a few guest stays and now I have to manage it. 

So basic repairs for 1200 SF house are approx. $20,000.Hope this helps!