I have noticed that license holders tend to say "yes" and the others say "no".  

It would be impossible to close in two weeks, with a short sale.  90 days is a typical requirement to get Actual bank approval, thus the time period stated by the seller, and closing a few weeks after that.....SOP.Also, you/the listing agent needs to know about any other junior liens that may need some contribution, other than what the first mtg. holder will offer, in order to properly structure the offer.....the most over looked step in successfully completing a short sale.Also, there is no value in a seller taking his property off the market for 90 days for an offer they know the bank is highly likely to reject, hence the reason to negotiate a reasonable price up front.

I am primarily a Buy and holder, but it's hard to ignore the possibilities here

He could also sell it to you on contract (he is the mortgage holder).  

In short the way I look at it the renter is a place holder for me.  

Additionally, current law prohibits a water supplier from denying service to a residential property for the lapsed payments of a previous account holder.

So the first trust deed holder put the building into foreclosure with a sale date in March. it also has a second lien holder that the realtor says will accept a short sale. he says the total of the two liens is over $500k.How do I work this so that it makes sense?

Keep in mind that it's not unusual that those that hold vouchers will often contact many landlords to see if they will accept this program even if it means that the landlord will have to agree to accept only what the local Housing Authority has deemed FMR for that area.So a good question to ask if a voucher holder contacts you is to ask the amount their voucher is for.Gail

I am thinking about forming one with my partner who is a US citizen.However, my status as an H1B holder does complicate things.

This would be great news, except that the junior lien holder has filed a notice to redeem and intends to pay off the mortgage amount.