If the bank thinks they can come after your friend for the shortage, they may be more interested in going to foreclosure and seeking a deficiency judgment.But, let me get this right.

The only moron around is one who intentionally continues to show their ignorance when others are seeking the facts.

In Missouri we don't have a limitation to foreclosure, but the issue pointed out by William still applies and if a lender or creditor fails to actively seek remedies your security interest may be limited.

That said, posters here should use caution if they get any contact privately from someone who is not well known on the board and seek the advice of the community back on the public side (the forum posts) for community protection.

Fire him at the first sign he has shortcomings or deficiencies and you could just end up going thru the same, or worse, with the next one.IMO, we do more harm than good when we dont require from posters seeking advice, ALL the info needed to sort out what are all unique situations that involve real people.This wasnt directed directly at you, Bill!

Your other option is to seek properties in areas where the competition isn't buying, or property types they avoid (condos, country property, older houses, luxury homes, etc).

I came to Bigger Pockets seeking answers to the most basic questions several years ago, and stayed because of the members who constantly contribute how they are finding success.I have learned more than I can express from the members here, both through the site and off the site via phone calls, emails, and the conference.

If you're seeking a wholesale deal I wouldn't go through a realtor.

Tell everyone a bit about yourself...particular expertise, length of time in the biz, do you have a GC license, type of work you seek, etc.

I am seeking a real estate agent/mentor willing to show me the ins and outs of house flipping.