When an investor starts to get CREATIVE which usually means little to no money down and all kinds of off the wall techniques then the odds of closing go way down.For the investor that hits the 1 in 100 miracle home run on a creative deal it is worth it to them but for the broker or agent it's usually just a waste of time.I wouldn't say not having an everyday single agreement is wrong but I would say it greatly reduces your chances of an offer being accepted by a seller.

After all, in their best interest to reduce their risk by these items.Remember that it's not the job of the title company to fix the problems that your deals present.

If the lender wants to do the whole deal under one loan, you can go there, costs may be less, but ensure that you get a release fee for each property, so that later on you can refinance or sell one property without having to reduce amounts owed on the entire loan.

You walk about knowing what you might need fixing and how likely they are going to stay or leave.You could implement a rent increase but offer an incentive at a reduced rate if they sign a one year lease.Also the tenants will talk to each other, especially during an ownership change.

.-- Not shopping around for insurance as diligently as I should have-- Not establishing a preventive maintaince schedule for my HVAC units before the hot/cold seasonI learned a lot this year.

I am not saying that you couldn't possibly fix the property and prevent the next step, which is structural collapse.

All real situation issues here in the servicing of this loan.If the property is located in New Jersey they have an expedited abandoned property foreclosure proceeding that can drastically reduce the time to finish the foreclosure.

The key takeaway from this for me, is get the place dried out asap to prevent further issues.

If not, perhaps you need to negotiate with the seller and reduce the purchase price accordingly.Depending on the creditor and the aging of the debt, could be that they will gladly accept pennies on the dollar, but if they learn that there will be a change in ownership, there is little chance they will negotiate much depending on the value vs. encumbrances.Good luck!

Either start showing it early and possibly reduce your vacancy time, or wait and show the finished product.Personally, I like to wait until the renovations are done if it's pretty bad in its current condition.