There are marketing deficiencies that require more time to make the type of repairs and improvements for me as well as some other investors to get this to close as agreed, it's not the price, it's other factors.

Did the tenant put too much down the drain and break it (their fault), or am I on the hook as the landlord to replace an old, deficient GD (my problem)? 

This is true even if the borrower may not be personally liable for the excess amount by reason of the contractual terms of the debt or the operation of state anti-deficiency statutes or similar laws.

Investigators are searching not only for lenders who have sold materially deficient loans to Fannie and Freddie, but also individuals, including those who reneged on their promises to repay their mortgages.

My gut tells me to ask them if you can short sell it.If you have other assets, because its a HML expect them to come after you for the delta - so foreclosure you will have a greater deficiency judgment.

And I 2nd Bill's highlighting of such, so as great you feel they are, there is some deficiency there.

Therefore, if one inspector cites a deficiency that another didn’t list on the prior inspection, it’s back to the drawing board with another scheduled inspection.

If one bedrooms are are$475 a month then the numbers tell me they are mostly smaller units.I would expect to find an antiquated set-up that locals arenot attracted to with dated if not deficient plumbing and Mechanicals.

Also, you may not seek any deficiency judgment as the lender accepts the property as full payment of amounts owing, it is a deed in lieu of foreclosure.A bit more as to Special Warranty Deeds, they may limit warranty for a period of time, but other matters may also be excluded, buying Subject-To, the SWD will except out the existing underlying mortgage lien.

Gary, I'm not sure what you mean about how to structure the deal as the property usually has deficiencies or issues when most rehabbers get them, but not always, the property condition really effects the how or what kind of deal you need to do.Contract for deeds are common where allowed and the property condition is not an issue except in making sure the property will qualify for future financing requirements.