You live and learn but you can not turn every bad deal into a winner.There is an opportunity cost to having it sit while you are largely out of the market.John Corey

I don't want to give this guy any more PR, good or bad.

Sean,I think you posted the exact same question in another forum here on BP.It is bad form to do so as it tend to split the responses.

If the landlord is not following the regulations they could be in a very bad position.

Then just make sure the deal closes and runs smoothly at that point remember your name is on the line and when things go bad fingers point your way...

The market there is good and we're both familiar with the good and bad areas.

If so and nothing has changed for him financially, is it really so bad to follow through on the purchase?

Went to view it doesnt look bad at all.

well if you're trying to acquire conventional financing, the subprime market is all but dried up completely.if you've got good credit and some money banked, you'll be fine.if you've got bad credit and no money - forget about conventional financing.

This is GOOD for the short sale BAD for the appraisals when your trying to sell it for profit.