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You can select the amount of the deductible, usuallyranges from $500 to $5,000.

I do these all of the time- if this is a rental, middle class sort of area; paint the cabinets, new hardware, new lighting, new appliances, resurface the counters and new flooring and all of the sudden it will look like a million bucks. 

It is crazy as it may seem like you are getting 100% leverage (you sort of are), but in the bank's mind you are putting a down payment into the property so you can get a loan. 

Got a crazy story out of it though… through some sort of miscommunication, the roofing sub-contractor replaced the roof on the wrong house!

@Dion DePaoli and @Lisa EckmanAll good points... yes I figured there would be some sort of cancellation of debt income same as a short sale.I will look into refinancing, however I currently have close to the 10 fannie/freddie loan limit. 

There are all sorts of resources. 

@Julio Reynel . it doesn't matter where the "broker" Is to sort you our with a loan.there are possibly few options but the mains ones are as follow:1.

One party cannot make the other party sell or buy the other party out unless there is a contract stating otherwise.So the owner who wants out is sort of SOL.

Anyway, to all you new investors out there... get the power switched over to your name as soon as possible and make sure they put all of the units if they are all part of one property under some sort of Landlord Agreement so if the tenant shuts off the power, you are notified.