That might be on the property management company that he was using but it appears that he has had knowledge of it for some time and continued to promote selling more properties to be managed by the same property management company.at this point I believe with all the buy backs and pending litigation he is trying to sell his way out of a deep dark hole.. it will take government intervention to shut that operation down. 

You don't lose any money by doing that, of course, but you don't make any either.I know the reluctance to condos runs deep, I bet well more than 80% of real estate investors share that reaction, but I wonder if it's from their experience or if it's just that they are repeating the same thing they hear from others.

OK I see in another thread your asking about lease options.. and probably sandwich lease options and your lawyer is sizing up your financial ability to execute on your contract when the person you lease to stops paying you which is highly probable.. so that's probably good advice unless you have deep pockets and can cover a mortgage or lease payment for the time it takes to evict have the money to rehab the house once the tenant trash's it and then lease it again.most who try these schemes do it because they lack capital and undercapitalized investors fail most every time.this is what the lawyer is thinking.. how to you get through a default.

However, if you're torn between 2 great options with one being familiar and one not, the familiar one breaks the tie IMO.If you're looking to use the property as a short-term rental, the following locations rank as the 5 best places to buy in 2018 (according to a recent report): Panama City Beach, FloridaChicago, IllinoisNapa, CaliforniaTulsa, OklahomaMemphis, TennesseeYou'll also want to consider any additional costs that may be required to effectively run the rental depending on the location and condition the property is in when it's purchased; including home upgrades, management fees, taxes, insurance, and utilities.Before you get in too deep, though, you'll want to check in on the local policies, rules, and regulations to ensure all of your bases are covered.

They deep down wanted to sell but didn't have the money to fix the house up to list it in the MLS.

That's stepping into the deep end of the pool without floaties if you ask me (I know...you didn't).I'd follow Wayne's guidance and if they are the one's filling it out and have that level of disconnect at this stage of the process, I'd get another title company.On another note, if your offer is $450M and the BPO is $650M and the total debt is $850M, I think your going get to a point real quick like where this deal will fall apart.

Here is why:The government has decided to debase our currency in order to save financial institutions and keep the U.S. from falling into a deep recession.

It does, however, mean that a lot were when refi's and sales were at such a high volume that the lenders were not even looking at the appraisal for the most part.Getting back to the role of the lender -- all lenders are subjecting appraisals to close scrutiny, first applying certain measurements to the basic facts, and then sending it to appraisal review when it does not meet the standards of these new guidelines (and they do not meet them A LOT right now.)It doesn't matter what the realtor feels it is worth or sometimes even what the buyer is willing to pay, unless they have deep pockets to put down a larger down payment to make up the difference they cannot finance -- the lender will have tremendous influence over the value simply because they control the purse strings.

You wouldn't take the deed, but you would still relieve the seller from the same problems, like payments.

I know we're missing information here but it just doesn't seem like much of a deal unless you have very deep pockets and plan to live in it for a very long time.Since you're a first home buyer, look for homes that need basic cosmetic work such as paint and carpeting.