@Jeff Mays Michal Jordon was arguable the best basketball player to step on a court and a world class athlete.

I play basketball overseas and she's a professional track athlete in Australia, so 90% (do odd jobs when we're stateside to stay busy) of our income comes from overseas.

I am now an athletic trainer in the Johns Creek area.

I like the points about the recovery of condos  and people are looking to upgrade to a SFR.

Wisconsin allows for a double rent recovery, but I am still learning how they calculate that and how it applies....to be continued

The state protects the public, not licensees.But that’s not nearly the worst part because if the seller sues you and they win an award you can’t or won’t pay, they still can recover their entire award from the state’s “recovery fund”.  

Additionally, your potential buyers are limited to other investors who will not be paying retail prices.Although we don't factor appreciation into our analysis anymore, it is worth noting that if/when the housing market does recover, I think SFRs will recover much faster because the value will be set by retail buyers and not investors.

Austin is on the leading edge of the recovery and things are heating up quickly here.

There are newer banks opening now or that have in the last few years that have healthy balance sheets with little to no toxic assets.I agree that many of the local and regional banks cannot take the write downs on commercial or they will be insolvent.They might have only funded a few commercial loans that went bad but they were big ones compared to the residential notes they are holding.I disagree that regular sellers won't sell.Core markets have already heated up and have driven cap rates down for A product and A location to just a little above the boom times.The problem is the local to regional banks hold the majority of the commercial distress in tertiary and secondary markets where recovery will be slow and painful over many years.Recovery starts with A assets in major urban city cores and grows outward over time.There are many buyers looking to purchase and to get a standard commercial loan need a performing property with high occupancy.Otherwise they need all cash or a hard money or private partner going in.Restructuring of notes on the pre-foreclosure side with a capital injection is also gaining traction.There are groups that have to deploy capital in a certain time frame who have optimal areas.Once they see they cannot hit the numbers they want in that area they have to adjust the expectations of the investors,return the money,or branch outward to areas that offer greater returns more inline with the investors fund expectations.Regular sellers are selling.Cash buyers want a real low basis.So I am seeing sellers do a wrap or hold a second or other creative means to get a higher price with some down for a buyer.For the buyer it lets them leverage the limited cash they have into a larger deal for upside in the future.Example for a 40 unit with a wrap and all cash investor would demand 13 to 14 going in.

Lender is willing to do this, because he has two sources of recovery: the real estate, and the $50k cash bond you've posted.