Investment Info:

Townhouse buy & hold investment in Jacksonville.

Purchase price: $115,000

Cash invested: $42,000

Sale price: $168,000

Unfortunately, we bought this property as a buy and hold...

Im no legal expert but belief if you get foreclosed on 2nd home and you still owe money they can come put lien/go after first house.

In my limited understanding it seems like the aforementioned brick needs to be reattached.It is my belief that the damage to the lintels, bricks and the internal water damage is due to the roof.

They were granted asylum in California, where they arrived with little more than hope for a better future and the belief that a new life awaited them.However, the journey to freedom came with its own set of challenges.

This was traumatic for me and helped shape my belief system.

The latest red flag is his belief he purchased a "fully renovated" property in Philadelphia for $115K.

That does not include any expenses, vacancy, etc.similar rent minus PITI does not equal cash flow.  

So now, instead of feeling excited about a new investment, I was scrambling for cash, stressed beyond belief, and facing major repair costs with less rental income to offset them.That experience completely changed how I approach real estate.

To qualify for non-recourse commercial loans through Fanny and Freddy you have to have equal new worth to the loan amount and 10% liquidity. 

@Clark Harbaugh, Given the favorable tax rulings over the last few years (in particular revolving around trusts and their equaling a beneficial interest in the underlining propery) the IRS has actually been much more lenient (or at least silent) on these issues.