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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Doughboy who wrote (7169)	12/6/2002 3:32:55 PM
From: MSI	Read Replies (2) \| Respond to of 306849

I thought about it too, but heard non-stop horror stories from my ppty manager about Section 8, the change in policy that HUD no longer reimburses damage to the home, the difficulty in removing tenants for up to a year (if they declare BK), who have no incentive to maintain it. This month she finally evicted a tenant, who had 5 people in the 2-person place, no one could be served notice because they couldn't find which jail he was in, and different people showed up at the door each time. After 3 months they got in. The power had been turned off for months, sheetrock walls trashed, carpet, windows etc., and a bad smell. It cost $10,000 to repair, and still isn't the same as it was. No compensation from HUD.