In other words, it could be a liability of $10.00 or $10M.If the Realtor is representing the seller, tell him that unless you have a written answer within the next 6 hours, consider this as my formal withdrawal of my offer dated XX/XX/XX. 

With all HUD properties now listed in MLS of course this is bsSince you have been through the formal hearing, your only option is to file in district court which is rarely if ever cost effective on a residential property What county is the property located?

I haven't paid any utility bills or formal mortgage/rent in the past year as I am living with my parents. 

Since I'm not here to ruin anybody's business, I will keep the names and addresses concealed.I recently announced going to Birmingham, AL for another properties expedition (Formal announcement to come soon...) and I called all wholesaler who have properties in Birmingham to send me their list for consideration.

I plan on presenting the buyer with the formal appraisal and giving them 10 days to have it appraised.

Did you have to go through the formal short sale process (BPO, financials of borrower submitted etc.) or did they just allow you to make an offer to settle?

Couple this with the fact that you don't have a good grasp of the ARV, and there are LOTS of risks that should have been addressed well before you committed to a purchase.Basically, you're buying a property where you don't have a good understanding of:- The ARV- The rehab costs- How the work will get done- In what timeframe the work will get doneOn top of that, it sounds like you plan to circumvent at least part of the permitting process, you plan to tackle structural changes without a formal engineering report and you are expecting your mentor (who I assume is not a GC) to tell you what can and can't be done structurally.And you plan to do a lot of the work yourself (with your brother) over the course of 10 weeks.

It's nothing big or formal, just a way to show someone you appreciate their post.

I'm formally posting now that I've been using the site a while -- I've received some great information -- the podcasts have been an awesome introduction and special thanks to those I've spoken with as a result.I'm based outside of Chicago, IL (Libertyville), and I currently own two single-family rentals.

Comps, zestimate, etc.) you employed), Distributions (how investors get paid back), and any other Notes that may apply.I'm liking some of these more conscice, online methods over the more traditional but vebose, textual, "3 ring binder", more formal presentations I've done in the past.Example: http://patchofland.com/investments/beautiful-suburban-georgia-rehab.html