If I could have flipped it for a $300k profit I'd be hard pressed not to take it.

I actually offered to help him on the bench press when I noticed he was grabbing his shoulder in pain.

A small rock stuck in a shoe, pet claws (just from walking), and any kind of rivets/zippers/buttons from clothes pressed into the floor can damage it easily.

@Rob Gribben   Rob, if they press the issue on payment you can contact his liability insurance and they will have a third party inspector look at it.

That is a great point, and something that should be explored further.If you could secure seller financing with only 10-20% down, and the terms are reasonable, you would be hard pressed to find anything better in the conventional market.For larger loans (2M and up), even if you can secure a low interest loan that is 20+ years, there are a LOT of costs associate with those loans.

Meaning there are so many factors going on at any one time it is tough to pick a bottom or a turn in the market until it is several quarters behind us.So all of this negative press is just part of the process and we will have more pain.

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For those of you who believe the CFPB will not go after small operators, or that MLO's are experts on regulation that can protect you, consider this excerpt from a press release:The CFPB found that David Eghbali referred a substantial number of loan closings to a single escrow company, which shifted its fees from some customers to others at Eghbali’s request.

@Stephanie Irto  Some of this info in this article is not exactly correct, but here is a press account.  

How can anyone else add to it :) I agree, as I said in my previous post that underwriting is the main cause - stop the presses!!!!