I'd venture a guess your motivated seller's property requires a lot more work than you'd anticipate.

My question to you guys is, how should I handle the foreclosure calls that I am anticipating.

Just let the broker/s know that you are working with XYZ company to get the approval and anticipate it being in the 500k range.

If I anticipate marketing before closing I discuss it then tie it into the contract stating such.

when you buy it but you have to anticipate problems, just to be sure they can be dealt with if they do arise.

I've stopped rehab work on it since the city won't give permits to finish the interior back to a 5-unit because of the zoning and the work is going to cost a lot more than anticipated so the property is sitting gutted and just a cash drain.

it would make it much easier and I could offer on multiple properties in a much smaller amount of time. this way i wouldnt have to sit down with the sellers agent and go through the motions since my offers I anticipate will be more of a numbers game (allot of offers before one lands)

It gives you a good feel for the numerical flow of the anticipated areas.

But it sounds like you anticipate the value of the condo, along with its cashflow, going up in the future.

I'll be learning as much as I can these next several months and anticipate buying my first sometime early Spring.