You could try managing from an hour away and if it works out stick with it, if not you can always hire a property manager.Elmhurst is generally a better area, but houses are also usually more expensive, so you have to weigh that and see if you would rather get more house for your money in a cheaper area, or a nicer house (and nicer tenants) in a better area.If you do decide to manage from afar then I would say stay out of C areas.

Your accountant can help with inputting those transactions so it reflects profit and expenses appropriately.Hopefully you have a mortgage and note so the investor's money is backed by the asset and when you sell his mortgage is satisfied.

I assume this is a multi million dollar deal.the builder of course NEEDS YOUR equity to get his loan.. now the good news is if he  can get a loan means he is somewhat to fully qualified.. you can do a participation mortgage in second position calling out for an interest rate and a bonus you just put it right in the note.. or lets say your lot price is 500k.. you simply write your note for 650k plus interest.. this assure you of profit.I would not do this though if you have no means to step in and complete or cash out the first.. nothing is worse than taking over a build project from a builder that failed mid stream

Due to divorce and other factors - my home is $119,000 past due with about $15,400 in back escrow fees, the mortgage is $4200 and could be re-instated - wife does not want to sell it to me, even though I would like to keep itanyone have any ideas on how I can come to end of this problem home?

And I want to see what kind of options we have in regards to getting a mortgage (haven't applied for one in 20+ years)We currently live in a Townhouse (it's up to date) ARV is $250k +/- We are looking at Single Family Homes in the area at around $400k.

It was just as good and cheaper

I rented two rooms in my home for years and paid roughly half the mortgage and a third of the utilities every month.

Have you connected with a mortgage broker in your Florida area?

@Joshua Lee Wegner you can't stop the train if this is slated for sheriff sale...unless there is a redemption opportunity...but you'd need to settle the property owners debt to bring the mortgage current...this doesn't sound like there is any opportunity to acquire this property...it's too late...the only opportunity with these is to negotiate with the lender...sell it short , maybe...have you spoken to the lender? 

@Russell BrazilWe’ll find out next week when the mortgage company sends their appraiser.