Lot more buyers, less inventory, and according to title company contacts a lot more home owners getting approved for loan mods (taking future properties off the market for the short term anyway).

I countered at $93K, he finals at $99K and a $5K seller's credit saying any less and he's in short sale territory.It'd cost roughly $2,500 (if the numbers my agent collected are accurate) to split off the water and pin the utility to the tenants. 10% for management and another 12% for vacancy/repair reserves and I'm still looking at a 20% cash-on-cash return.You guys are pros, and I'm not.

Then we started looking at listed homes and I thought we could get a deal going with a short sale or Reo.

Purchased half of my properties last year as short sales.

For this reason it is very unlikely that anything short of filing for eviction will work.

I would place $750K in low LTV private mortgage loans yielding 12% and up and $750K in income producing real estate with short term leases than can be adjusted quickly should high inflation become a reality.

If your ownership is short-term then keep existing financing.

If you are making offers to sellers like banks for REO deals or short sale offers, you will need to do so (in most cases) with your state approved contracts which are availabel from any RE agent, title company, or even your attorney.If you are making offers to private sellers, you can use any contract you wish, but I would advise that you use one your attonrey has approved for your use or use the same state apporved contracts.

About 4 or 5 months into the contract, the Landlord informs me that the house is going into short sale.

I recently made a full offer on a short sale.