Brian you are intentionally eaving out the opinion of condition of the property which was in the first posting and runs throughout the thread.

Since you don't have a security agreement to govern any foreclosure, you'll likely be ordered to go with a judicial foreclosure and there, you could be slapped with paying your tenant to get them out.Also, the SAFE Act specifically mentions Options and also includes language that leaves any method or scheme that effectively extends financing in a transaction or that attempts to circumvent the intent of the Act.

(possible short sale intention right now if nothing high enough is accepted?)

I will avoid renting any properties purchased for the intention of flipping.

Bill, it was not my intention to offend you.

Proving the intent was probably a hurdle for prosecutors and the new laws specifically address the issue making it bit easier, I suspect that's why they are being adopted.

I came up with a GENIUS idea that night I told Tony we should swap the manuals since with both were dissatisfied with our purchases I had no intentions in putting together any short sales any time soon and 3 to 10k did not motivate him.

But, as a note holder, if if I repossessed a car and auctioned it off, if I did not make an attempt to collect the full amount in good faith, in other words I asked for a lower price with the intent of sticking it to my borrower, such tactics are disallowed when the judgment is sought.

You can tell when someone isn't well intentioned by their voice, as compared to someone that shares your enthusiasm.

You should be paying more like $100K.If you can't find a good deal in your area, and your intention is to make money on a monthly basis, then don't buy in your area.