I've been clearing out all the post-divorce crud over the past few years.The ex-wife and I short-saled the 2nd marital home with a $60,000 deficiency still lingering around.

It identifies deficiencies in the thermal envelope.  

If it is not such a great property, do you have the skills and capital to fix the deficiencies and will the resulting increase in NOI and price make it worth your effort?

Once I have the property under contract I will have an inspection completed to identify any deficiencies and determine the useful life expectancy of major components/appliances.  

Some other factors that will go into the negotiations are the state's laws regarding deficiencies, the % of the balance recoop'd from the SS, 1st or Jr. lien position., and Mortgage Insurance offsets.

Networking and niche targeting can overcome any deficiency in advertising budget.

If you failed to properly notify the landlord, in writing, of deficiencies, and furthermore failed to lodge a formal complaint with the local code enforcement people, then again you have no one to blame.If your rental agreement does not address snow removal or who pays for what utilities, YOU should have been asking questions.

The BK only effects the ability of the mortgagee holding the mortgagor personally liable for deficiencies, it does not effect the collateral or right to foreclosure unless the court acted on that matter specifically.

Either the seller maintains the property correctly with no deficiencies and commands a higher price or they do not fix things and get a much lower price on resale.

The difference being the deficiencies pointed out in one property or asset class type is acceptable to one investor and not the other.I do commercial real estate.