Some certificate holders just hope to collect the minuscule interest rates (minimum 5% total regardless of how many years), or some may have realized the property isn't worth the total of their certificate, plus all the other outstanding certificates which they would have to pay off to send to auction.  

Median home price is around 290k (+/-) nationwide.

Outstanding!

We actually get deals for investors nationwide.

Residential Lending Hard MoneyNationwide private money lender for home flippers and other real estate investorsBarnett Capital provides lines of credit for acquiring, renovating, and stabilizing single-family, multi-family, and mixed-use investment properties nationwide and in Canada.

Property info: #1 main residence, current value $1m, outstanding mortgage $400k#2 current value $600kSo, ideally I'd like to have one mortgage for $1m, to cover both properties - as that would mean only one mortgage, only one enquiry = increased probability for approval. 

Evicting them won't be cheap, but that might save some money.Also, please remember to get a judgment against them for the outstanding balance.

However, accept no application and make no commitments while there is rent outstanding.

The other financed properties reserves amount must be determined by applying a specific percentage to the aggregate of the outstanding unpaid principal balance (UPB) for mortgages and HELOCs on these other financed properties.

I have done thousands of deals during my 30 years in real estate (in New York state as well) and I know very successful wholesalers, who live in Manhattan and wholesale virtually (nationwide.)Good luck!