I am an advocate of Joint Ventures to cure any deficiency 5 Lenders tell you no keep asking30 lenders tell you no...really ponder what your trying to do.

I find that the best investors and rehabbers, look past the deficiencies of the property and see the potential it could be.

The property has been listed a long time, there are obvious deficiencies with the property, etc.

The remainder that is left over is the deficiency balance - which should hopefully be waived so the seller does not owe anything else after closing.

What you are recommending here is not a good business practice and it is bound to get you a bad reputation with other realtors.If there is an extreme deficiency found or some type of problem covered up, I am on board with opening a renegotiation.

Your problem is likely something else....now the panel if older may have deficiencies, but if in good order it should fine.

A judicial foreclosure allows the lender to get a deficiency judgment against the borrower.

Standard STR PM in Mission Beach is 25% (there are some cheaper, but they usually are deficient in some respect), so $40k PM fees.  

There's plenty of ways to land yourself in hot water with this strategy (ask the n number of people that have faced lawsuits due to deficiencies in subto agreements + communication)Also, if this is your first deal, it wouldn't be a bad idea to get due-on-sale insurance to make sure you're covered on all fronts.

Below is what they typically look for, and if it does not pass, you can have it re-appraised after the deficiencies have been corrected.