Short sale offer?? Can I get deals or not?

[Mark Gingrass]

If a property owner is facing forclosure and can proove that they can not pay the mortgage payment. This would be ideal for a short sale right?

Lets say property owner X owes $78K pay off amount.
The house only appraises for $78K as well.

Does anyone have an idea of what the lender would be willing to accpet in a short sale.

The house will need all new paint and carpets to make rent ready.

Any ideas will be appreciated. Thanks.