About 18 months ago, I looked at a townhouse that was selling for $85,000 and needed probably $40-$50 of rehab including fixing the water damage.  

The lease says they are responsible for any damage to their personal property due to leaks/water.   

By the way - I will be calling @Charles Waters to talk about an attorney.  

I wondered if they can be cleaned with something like bleach/water and dried and re-sealed?  

But I can almost guarantee you that the property has 0 equity and I am guessing the loan is under water by the tune of at least $25,000 (though I will know more once I get an authorization letter).This couple, since we have a bit of a prior relationship, would probably give me a quit claim deed.

I seriously considered asking how she could afford that and not a rent increase, but it was water under the bridge at that point. 

So here's what I have so far from the BP calculator:Vacancy (10%): $316CapEx (5%): $198Management (5%): 198Taxes: $375Maintenance (5%): 198Insurance: $100PITI: $1,567Sewer and Water: Tenants payTrash: Tenants payHeat/Utilities: Tenants payHOA: N/AMonthly Income: $3,950Monthly Expenses:$2,952Monthly Cashflow: $999.92Total Monthly Cashflow using 50% Rule:$408.42Cash on Cash ROI: 15.35%Any tips for the first showing?

Think of oil and water. 

hi allsend out letters mon got a call today motivated seller problem  2yrs behind on payments had a balance of 76k has an arv of 110k have not seen house on the inside seller says they updated bout 5 yrs back but only bathrooms and carpeting has a pool with half water in it owner says nothing wrong with itI told seller to talk to bank about a shortsale as they just want headache gone but not willing to do l/o or seller finance any suggestion on how to get it under contractwho talks to bank about shortsale seller or buyertks in advance

People can't go further north (too much bridge traffic), can't go further south (proximity), can't go further east (mountains) and can't go further west (mountains and water).