I don't buy the note unless I feel strongly I can help the homeowner. 

I use 10% vacancy initially to see if the deal will be fat or thin, then move towards a 5% vacancy calculation since I believe that is more likely than a 10% vacancy rate. 

What the property management SHOULD have done is initiate the eviction process following the statues for the state of Missouri. 

Like I said initially, it often comes down to what the norm is for your specific market.

I don't think this is cut and dry but i typically try and see what might need to be done to occupy it, how strong the market is and what do you have to do to get a deal done because you don't want to pass an opportunity for paying a little on the upside but also don't want to overpay on something that has some question marks on it as well ( plus this is work you have to do which it would be good to be compensated for ) 

Should I max out what they will lend me so I can invest as much as possible in the next multi-family asset, or should I be conservative and just take out what is needed for the initial amount of capital that is required for the next deal. 

Initial conversations went really well.

Industry activity as well as proposed and current development projects look to keep us in a strong state.  

I paid the initial deposit to the auctioneer but I am not technically owner of the property until its ratified.Any suggestion?

Looking to learn and invest in the DFW area initially, maybe remotely later on.I've read BP for a while, so I'm now thinking of practical questions.