Prices are also high compared to surrounding areas, and investors from the Seattle area create a lot of buyer competition. 

The 5 year rate is the most competitive and many investors will do a 1031exchange at the 5 year mark.

I have a local lender that does 80% LTV, no seasoning, 30 year amortization, lends to LLCs, and at a competitive interest rate.

I'm in Los Angeles where it is extremely competitive to find deals and the profit per deal can be huge (over 100k).

I'm not so sure that same competitiveness applies to larger JVs.

Yes, I would ask for tax returns, k-1's etc.I would run a credit check and bacground check on each individual.I would analyze the competition in the sub market.Assuming all come back with credit scores of 700, historical sales of each are stable, and there is not another similar use within a 1 mile radius, I'd go with:A true "retail" use, because I might be able to negotiate a percentage rent provision.

(Don't forget that only a fraction of the TARP money have been actually spent.)5.

You NEED to read everything you can get your hands on pertaining to this business - and it's a pretty broad spectrum.Understand that your competition has years of experience on you and know things that you do not yet know.

I was hoping to make my offers more competitive by not including a financing contingency and using bank statements to show proof of funds.

Also remember one more think this kind of attorneys are usually involved in debt settlements and and they might be able to proceed with yuor deficiency judgment settelement and save you thousands for fraction of cost.Again this is only my opinion and my and my partners experience with this issues.I always try to tell people standing before decision to proceed with short sale or not to take a blank paper, divide it in half and on one half just write scenario what will happen when you will let it go to the foreclosure with all concequences and financial loss and what will happen 6-12 months from now with you and your family and at the other half what will happen when you proceed and close on short sale and how it will affect your life in your next 6-12 months.If you don't know usual foreclosure concequenses, just let me know and I can get you free foreclosure vs short sale list FREE.