Not necessarily for the actual default but in the future, if you don't properly disclose that default at every turn, you have committed fraud.

I guess the question could be rephrased to say how do you unlock the value of your built up equity in a property and how do you assess the use of that in future deals?

This will help clarify things in the future.

I only consider court because this guy was extremely confrontational, aggessive and a scammer and I hope to maybe slow him down from pulling this crap in the future.

Guess what I'm saying is that your real cash flow is different from your income considered for future financing due to taxes, vacancy, depreciation added back in vs the equity held.

I actively invest in your market and hopefully we can do some business together in the near future (though I just bought a property so my cash is a bit thin now.).

Shannon, Copying word for word other's work should not be done, but there are ni issues with with following general outlines as a business plan is in the public domain just as a resume would be.As you look at a business plan try to look at the overall topic or issue that is expressed and adopt it to your specific business.A pro forma statement for example is a financial statement that predicts future performance.

Once you have the first it will become a template for future deals. 4) Yes5) I would insist so that my name is no longer in the liability chain.

What is the economic situation now and in the future of the location I want to invest?

Sounds like your EMD should be refunded unless they are willing to reduce the price to cover the extra costs you will incur, and they will have to disclose the termites and damage to any future buyers, so they should be willing to negotiate.