I would also try to anticipate their situation and needs and how you could facilitate their exit.

Quote from @Shawn Questa: Hi all,I am curious what some of the Pros would do to Help a Seller in this situation while making a Deal happen.I found a 200+ day old MLS Listing where the Agent said the Seller is in Financial Ruin, hasn't Paid the Mortgage in a year, owes about 180k on an approx. 210k House and multiple Buyers have backed out.I don't know how someone could not Pay their Note in a year and not at least be in Pre-foreclosure. 

.: Quote from @Chris Allen: Long story short, I am in a difficult situation with a property of mine and need to get rid of property.

I’ve noticed that there hasn’t been much recent discussion or activity specific to the Gainesville, FL market, so I wanted to start a conversation!

By your description of the situation, I thought that might be in. 

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

That shows real estate can be possible for anyone; in my opinion, I know everyone has unique and challenging situations, but in principle, anyone who can follow some basic budget fundamentals can save up enough for a down payment.Grateful BiggerPockets continues to bring more people into the industry!

Here are the specifics: our current property is worth 360k roughly; we owe 120K on it.

Are there specific market indicators or property traits I should be paying attention to?

.- Analyze Comparable Properties: If you’re working in a specific market, reach out to other landlords or property managers with similar assets.