Many lenders set their opening bids at the outstanding loan balance, even if that amount is more than the property is worth.

1100 sq ft, 4BR 1bath, 2 minutes to major highway and looks out over a lagoon.  

Also if they are any outstanding balances on the eviction databases, and the tenants are moving  out of the property because their lease has expired, you have to be able to read between the lines, like someone at the company forgot to send in the notice of satisfaction...

Those houses are professionally managed and have positive cashflow.I have an offer outstanding on a SFR in the Indianapolis area and hope to close on that soon.

But my payment is so low that I am making a ton of money plus the outstanding balance drops by a few $100 every month.

Is it possible to double close on this home at a lower price than what my seller owes as long as the seller is willing to pay the outstanding balance and does that mean the home will be a short sale if he tries to get this approved by the bank?

Small town in the Midwest as two highways (2 lane medium traffic flow) that intersect at the corner of its town.

I would survey the tenant base asking about any outstanding maintenance issues or concerns.

North Del Paso where the 80 highways start to reconnect is definitely a battlefield, I was at first interested here because of home prices.

You get the purchase price back and the lender gets the outstanding loan amount back.