A lease doesn't give them the ability to start wrecking the place!

Gotta love the 15-day lockout to investors on pure rehab inventory - imagine an OO couple pulling up in the driveway of some of these train wrecks and saying, "Oh, honey, this is the one!".

My vote is no, unless you want to see what a train wreck looks like. 

So in the last 12 months these are some of those kinds of unusual expenses:- replace oil tank $1800- replace Bilco door wrecked by tenant $950- replace sewer pipe clogged with roots $2000- repair neighbors gutters that were destroyed by one of our trees $250Anyone else have unusual/extenuating expense stories?

No liquidity + no experience + creative financing = high probability of a train wreck for someone (probably some already desperate homeowner).

Eventually you will have ones that will really wreck the place.

Let's not create a train wreck here.Mark

Judging by the smell and what I can see through the front window the place is a total wreck, looking at over $5000 in new flooring and repairs.My dilemma is the damage has been done, what should we do going forward?  

I'll never understand why everyone looks for another crash right after the last one.It's as if one has wrecked their car, just got it back from the mechanic, and as they drive off the lot, they start preparing for another crash.There is no crash currently happening, there's not going to be another nationwide housing crash.If by some crazy chance it does, guess what, if your in or out, it don't matter, your bankrupt with 99% of the rest of the county.If your in a state that people say it's crazy on everything they do.

Great for flips where you don't have the house very long, but it wrecks your numbers on buy and hold unless you absolutely steal the property.Private money is great for what you described, you just have to find a willing lender that does the right terms.