@Wayne Brooks  I don't know about your short sales.. but I know when my wife did a few and one specific I remember was a dentist who wanted to be a flipper  and was upside down about 100k.. the bank made him sign a prom note to release him.. so even though my wife closed the short sale the doc still owed 100k over time. 

Knowing the specific locations will allow me to determine the contact.

I am speaking specifically of Orleans parish (county). 

I avoid giving specifics on non-credit/income denials. 

Still in the early stages of conversation but got some beginning information and wanted to see if this was worth pursing:Asking Price: $550,000 (I already assumed that was too high, trying to figure out a reasonable price to offer)Income: $4000 a month (believe there is potential for rent increase (waiting on specifics of each unit))Expenses: $900 a month (Water, Garbage, Taxes, Insurance, Maintenance, Pest, & Septic) Self- ManagedNOI: $3100 a monthCap Rate: 8.72%Stable TenantsDoesn't need major workGood Area, Decent SchoolsQuestions:1) What is a fair win-win offer?

I've yet to force a foreclosure in either of those counties  so cannot comment specifically on what the protocol is. 

However, when I ask why they say that, they can offer no specifics. 

"In the case of any investment held by the tax payer for at least 10 years and with respect to which the taxpayer makes an election under this clause, the basis of such property shall be equal to the market value of such investment on the date that investment is sold or exchanged. " If anybody has questions specific to opportunity funds DM me.

I want this and if I make mistakes along the way, GREAT. just more lessons learned.Tl;Dr Does anyone have Virginia specific purchase/assignment contracts?

On average range from the high 5% to low 8%  plus or minus depending on some specific adjustments based on property type, location, credit, experience, etc.