If the pipes had froze assume that all pipes need to be replaced.

Lesson #1072 learned.Now, a question: one thing I intend to put in my contract going forward is a requirement for government issued ID, copy of the contractor license, and proof of insurance, as well as same for all subcontractors used, whether hired by me or the GC: how much resistance am I likely to run into asking for all of that, in your experience?

It of course is worse than that... because your HA is using tax dollars, and if you bid them up you are just adding to government waste;)

Second, agents mislead banks, governments, and relocation companies, but not individual clients, like you and me.

Rich, for properties on that scale you often find more options with programs associated with government back loans.

You could buy up quite a bit of vacant land, transactions are simpler, maintenance costs are far less and government involvement is at a minimum.

Just watch the government's huge bureaucratic overhead make their rents 10% higher than us small players resulting in thousands of empty FNMA and FDMC rentals.

This subject comes up all the time my sujestion is to find an appraiser or underwritter ask to sit down and tell you what they look for on all appraisals, the appraisal is ment for the lender and the guidelines are in place by the two government agencies.

Ditto with Ginnie Mae (FHA, VA) and other government (Farmers, USDA) that will not lend to LLCs.

Jeff - you are correct though, the government may very well takes steps that "helps" investors.