It's very hard to cash flow positively while living there since the Seattle market is more expensive, but to me if you can significantly shave off your living expenses compared to renting then that's a win !

For some info supporting things Nationwide Will and Jeff S have stated, check out these links:Delinquencies Continue to Climb, Foreclosures Flat in Surveyhttp://www.biggerpockets.com/links/1302-delinquencies-continue-to-climb-foreclosures-flat-in-surveyWaiting to catch a wave?

Under your EDPM is a few layers of rigid foam that is fastened to your deck.

I'd be flopping on the floor, foaming at the mouth humming lalala with my hands over my ears. 

Try and find a local mom and pop shop who doesn't have all this overhead and I bet you can shave at least 1 to 2k off the price...For any kind of CapeX I ALWAYS get at least 3 estimates...Sure it stinks to have to lay out this money all at once, hopefully you have a credit card you can finance at least a portion of it so you don't leave yourself with no cash reserves....30 years is fantastic to get out of a Central AC system...

I was not aware that if there was no 'release' that a tank could be left in-place, washed and then abandoned with with fill / foam inside.I get that regulatory agencies are unlikely to say there will never be any 'liability' but it sounds as if the closure report / 'no further action' letter stands as comfort to the (new) owner and any lender that the issue has been fully addressed.Oren

Somehow it works by shaving some margin off of your spend and then snowballing your loan payoff. 

The 56 unit apartment complex that we built this year we used passive House design where we used to buy six on the exterior walls with 6 inches of open cell spray foam insulation.

If your buying now and your rentals have low net margins, you could be sol if rents have to get shaved down a few hundred to keep vacancy units full, but right now the number of homes are way to low for the demand.I personally think we will see this continue to move along as late as next year before it slumps off.

I have heard no lower than 42% of UPB and that you can give your indicative offer and then try to shave down your offer after you dig deeper into the situation.