However, if he loses the audit and is unable (or unwilling) to pay the IRS - then it can become a problem.

Due to the above, the deal is likely to die as the seller is unwilling to drop the price given the appraisal.Since the seller falsified the listing, can I have him repay the money I spent on inspection / appraisal?

SO many landlords have bad conceptions and are unwilling to accept SEC 8.  

I'm unwilling to deplete my account to make a purchase and with the market I'm in its hard to find a smart buy with good rental potential without a decent amount of money up front.

If they are unable or unwilling to meet what you are looking for, move on quickly or continue to lose thousands in lost revenue.Also, I call almost all of my PM's weekly.  

@Rochelle Wilkinson, @Ned Carey - thank you both for giving props to your contractors... it's not done often enough and it's certainly understandable that they are closely held.Your comments are evidence that not all contractors are bottom feeders, that good ones do exist, and are hard to find (in part, simply because they are good and don't have to market as they have a steady referral business.)And to your point Ned, so many investors want the good referral, but are unwilling to pay for it.  

If the potential buyers were unwilling to give you the last name, they might not have given you the correct first name either. 

In Texas, I can assign a contract but unless the seller signs off on the assignment or my contract specifically releases me of all liability post-assignment, I am still on the hook, albeit unwillingly.   

To flip it, while should people invest in you and be with you when the going gets tough , when your unwilling to go for it.

This is my first short sale and I've been working on this short sale for a while now and finally got the "Approval to Participate". Originally, Wells Fargo told me that the sale contract was a part of the short sale p...