Hi Duncan,So just to clarify: a short sale is a very specific situation that only applies when the homeowner owes more on the mortgage than the property is worth—what we call being “underwater.”

No big deal, you get a .375% lower rate to get your DSCR to .80 instead of .78 to get the deal done. now, prices drop, tenant tears up the house, no money to fix, oh crap have to sell but more or less under water even after putting down 20% due to closing costs and PPP that I was told was no big deal.

This way, they are getting a fair deal, I'm not going underwater with my rents, plus they have expectations that this process will happen annually.   

Well its not complete with construction, so my guess is the property is underwater.We recently acquired a pool of similar type properties where they were not complete with construction and went for 40-70% of UPB due to the fact that they were not completed, and most lenders are not skilled to complete a MF project (we are one of those companies so we took advantage of it).The missing piece again in this puzzle is what is the current value, what is left to get it completed (how much $) then what is the ARV.Doesn't seem to be underwater. ill know soon the answers to all of the missing puzzle pieces after DD.

One cap ex event and I am already under water with the $100K property.

If you sell 20% less than you think, and the project cost 20% more than you thought then you may be under water. 

I am a bit conservative (financially) by nature and definitely want to SWAN with my properties with no chance of being underwater.  

Get a real honest look at the market.Something tells me you might be underwater or face a real liquidity issue getting it off, if you do indeed try to sell it. 

It's been widely reported that 73% of people think Trump is doing what he said he was going to do, but he's underwater with his approval rating. 51% disapprove (1ith 40% strongly disapproving) and only 47% approve (with 37% strongly approving).He has a favorable approval rating of less than 1/2 the US.

As the numbers sit now, I'd be underwater due to the asking price.