My suspicion is that the story is being lost in translation somehow

That will translate into adjusting the LTV of the loan and usually requires the buyer to come up with funds they were not expecting to pay to meet the LTV requirements.

It really doesn't matter because you will want to bid based on a percentage of current asset value and then translate the number to whatever format they want whether it is a lump sum or a % of UPB.

I understand that single member LLC's can be considered you "alter ego" and be treated as a sole proprietorship and as your personal assets.

Are there condos in Florida (or other southern states) with few amenities which translate into low condo fees (in safe areas of town)?

I love everything real estate.I started by just helping my friend out, translating for foreign customers during the boom years of 03 and 04.

Just received an approval letter from GMAC with a clause that reads: "THIS TRANSACTION MAY NOT INVOLVE A THIRD PARTY WHO RECEIVES A DEED PRIOR TO THIS CLOSING OR AFTER THIS CLOSING AND BEFORE RECORDING OF THE DEED TO THE PURCHASER".I am using the Option Contract and the only thing recorded is the "Notice of Option".Would you translate this to "I can never resell or transfer the deed to a third party?"

Tenant/Buyer shall take an active role to insure that the property stays in excellent condition. 17.Damage: agrees to pay for repairs of all damage which they or their guests have caused to the dwelling. 18.Maintenance/Repairs: describe exactly what this means. 19.Alterations: has right to paint and decorate the property at his/her discretion within tasteful guidelines.

But, this lack of experience generally translates to a much higher risk profile for that investor as well.

That translates to something different for every person.