Marc Walowitz United Financial Counselors3715 Main St STE 406Bridgeport, CT 06606Specializes in short sales and distressed properties

One of the predominant sales tactics for selling 2 units is the "someone else helps you pay for your mortgage" line.

I'm not completely solid on what balance I will find between commissions from investors, commissions from more traditional home sales, and cashflow from rentals, however I'm diving into it with an open mind to see where I find opportunities. 

Of course they had a very articulate individual on the sales end who was able to sell me on their business model.

Plan is to use master lease option, and then hold for long term cash flow.1) Being a unique property and hard to find comps, given the appraisal, sale and listing data, how do you determine what your max purchase price to be?

If a borrower is in bankruptcy, the foreclosure sale isn't going to happen until/unless the trustee approves the sale of the home or abandons the home as an asset of the bankruptcy court.

I can’t see them needing this house when the building is finished and I can’t see them rehabbing it for sale either.The second I think is a rental but has been vacant for at least a little while, there hasn’t been any work, cleaning, or showings that I can see and I drive by it almost daily.

This will be a balloon payment at year one, so if you borrowed 130k, you owe 130k at time of sale or refinance. 

Best of luck with your sale!

Account ClosedAny person engaged in property management activities in Illinois needs to be licensed.This would include showing a unit for sale or lease.The only way to get around that would be hire a leasing agent, which can only be used for leasing activities and not sales.