You spent none of your money and you made $10,000 with no property to show (which is what you set out for).A few of the points may change of course like the numbers, a double closing, your relationship with the owner and your cash buyer are vital.

It's vital you leverage from experienced investors to mitigate your own headaches/financial loss. 

You are attempting to negotiate between the borrower and their lender (albeit, their "new" lender) for a loan modification or extension of credit.  

Last year I made some modifications to one to accommodate a disabled tenant and would like to expense those modifications if possible.  

This became vital to this acquisition, as there were multiple offers that we ultimately beat out as a result. 

Putting down roots is vital. 

If a seller has never tried loan modification, the bank might make them apply, which can take a few months.

The first loan has a loan modification from 5 years ago and this is the loan that is foreclosing.  

@John Thedford I had an attorney obtain the 2-T make modifications, which include escape clauses, that state clearly that I can exist the contract within the due diligence period for any reason with written notice.

The majority of the vitals were done in the past 10 years, so the seller endured most of the major capital improvements.