I used to be a stock options trader and a semi-professional Blackjack gambler, so I know the importance of money management and determining your exit points before you even enter the investment.Build a system, back test it, use it and refine it. 

No matter what you will look back and think "damn I could have made more $$ if I stayed longer"  or "thank god I got out when I did"...Its like being at the blackjack table......

I used to gamble and was pretty good at it, especially blackjack  / 21. 

The insurance company is the dealer, and we're all playing 6 deck blackjack that pays even money on the blackjacks we hit.

Pretending to have no time is sure disaster no matter whether you invest in RE/stock market or play black jack in Vegas.

Black could become Blackjack, Black and White, etc.

So, while accepting a short sale is indeed in their best interest (sort of like splitting 8's at a blackjack table, you still lose, but it makes for a smaller loss), they're not going to let the former owner be the one to benefit from their loss.If she can afford to make the CURRENT payments on the EXISTING loan, and has enough cash to make up all the back charges, she could "buy" the house from her ex subject to the existing loan.

I'm moving to Palm Springs, CA (I'm a blackjack dealer) and was considering buying a place instead of renting.

@William Allen with Blackjack Real Estate for good wholesaler.

Never seen a payment.A few properties for a few years is like playing ten hands of blackjack and winning seven.