Originally posted by @Paul K.

@Matt K. - I saw those today!  

There are no 5 - 10 k rehabs... there will be things that are found once you open walls ect. 

This property was a shell to begin with and I am getting an extensive rehab done on this (close to 100 k). 

Does anyone have any recommendations for FHA 203(k) Lenders in San Diego, CA?

Otherwise I can drop the windstorm coverage and keep the money tied up but it would only cost 3.6 k a year.

In most states residential loans are fully recourse and allow for deficiency judgements against the borrower if the foreclosure proceeds come up short.

this is an auction .com property subject to overbid.. the chances of you getting this for that price are slimnot only that you will need non refundable EM of at least 3% and you have to close in the name that the contract is in.. no assignments this keeps the wholesalers at bay.. properties just don't sell that deep of discount in the uber hot Portland market.. at least not on MLS  heck lots sell for 100 to 150 k with nothing on them :)

Their credit card processor will send them a 1099-K that sums up their total amounts received for the year. 

@Oren K.