dont know the details but to answer your question if the bank forecloses she gets nothing.. this is true many times, but many times it is not. if there is a lot of equity and no junior liens the owner that lost it will get a big fat overage check.. 

Since when is the fat pig government a protected class?

And while those rapid burners do exist, I would say they are an extreme minority when compared to the total BP population.I would rather have a home that is net neutral in cash flow on the day that I purchase it, but is in a desirable area with 3-5% annual growth, than a $200 per month cash flowing home in a different area that isn't likely to get any appreciation or worse yet will depreciate. 

@Tina Lee would you hire a fat personal trainer?

You would get bored , fat and lazy . 

I do sometimes do flips but those tend to fall on the back burner a bit and take a little longer to complete than a usual flipper because the handyman had other accounts.

This was an opportunity to shed expensive labor and trim operational fat, while cutting some competition.

Stoves, if they look good I take them, easy to replace a burner or burner receptacle.  

How about an extra $20 to the junk guy to see if food in fridge is cold, water in tap is hot, and the stove burners light up?

Am I going to get a big fat tax bill for the $70k profit?