,If FNM is short for Fannie Mae, the 4 mortgage limit has been changed to a limit of 10 mortgages.Here is a link talking about that: http://themortgagereports.com/7395/the-5-10-properties-program-is-for-investors-with-more-than-4-properties-financedRaymond

You would have to go through a short sale, which would require cooperation from the owner, in order for the bank to waive the balance.

We have had good luck buying at auctions and short sales recently.

I will be expanding into quads shortly, and will be reading this for information.

I'm very certain I've had more students or given instructions to more people than any private music teacher, I know that as my father was a music teacher when I was a kid.I think you just said those who have a gift for teaching others can do so much better with experience in the subject, that's what I was saying as well.Perhaps the flu has you down, get better, but what I said was not directed at you or anyone particularly, no need to be defensive, I left the door open by mentioning the subject matter to be taught.

Most banks will not allow you to re-sell a short sale for 90 days (the anti-flip clause).

Pay the difference, short sale, foreclosure?

REO, Short, fair market?

So in short don't do what you said in your original post, it's up to the family to determine if it will fit their needs.

I read your title and first thought you'd scored some concert tickets to a R&B guy, and wondered why you were skeptical, can't you just listen to their music on youtube, see if you like it, chortle chortle?