That implies you put down $25000. 

An owner's intent to abandon real property can be implicit (or implied from the known facts). 

Some people, like Paula Pant, seem to imply that hitting the 1% rule should guarantee decent cash flow and a property worth buying, but other analysis methods make me think 1% is too skinny of a deal. 

If he's in an active 13 and a foreclosure is in process during the 13, that would imply he defaulted on the 13, at least as it relates to the property.

his reply "tenants trash the place" implies that ALL tenants are bad. 

@Joe Villeneuve- I mention feeling comfortable with the scope not to imply overconfidence but rather just to express that the breadth of this rehab is something I am familair with and have contractors ready.

As mentioned, while "ramping up my knowledge base" which implies that I am indeed reading, listening (Fairless, et al), and seeking counsel, I think it would be beneficial to visualize a sample contract or two. 

I thought it was implied that their lender would be doing the loan mod.

While the rules may be the same throughout the state, seems like at least in my area, it changes a bit from county to county, so taking a class from a national trainer might give you some basics, in my area you really need to learn from someone locally.

Wearing a black suit implies "I'm at the top of the food chain".