MLM also, of course, he soon realized the benefits were bogus in most situations including a couple fleet trials from friends of his that had fleet departments in their businesses.

More specifically, they will prohibit the owner receiving any benefits, and renting is a benefit.Unless you're talking about buying the property at something like 30% of the current outstanding balance or they have some outrageous loan terms, the rent you need to charge to be profitable is going to be higher than their current loan payment.

Also, when the lender looks at my outstanding monthly expenses/loans, will they consider taxes on my condo mortgage or just the actual payment and interest?

If it is something like 3% of the outstanding balance as of a date computed, you could really mess up if you made another charge, even by accident at a gas pump.3% of 45K is $1,350 a month!

The confirmed neither tenant had paid their outstanding bills and informed me that the water would be shut off on Monday if they did not.

Upon completion this appraisal and inspection, and by or before the 1st of September 2011, Owner’s will create the Offer based upon the Property’s fair market value less the industry standard costs of repairs of things highlighted in the inspection:[(approx. appraisal price) – (approx. repair costs)] = Owner’s OfferIf Tenants and Owners arrive at an agreed-to price for the sale of the Property to Tenants from Owners before the close of business on the 30th of November 2011, then Owner’s will credit up to $1,000 of the Tenants past lease payments (less – if any – outstanding credit-balance regarding the above mentioned Repairs Agreement) towards the agreed-to price for the sale of the Property.If Tenants and Owners do not arrive at an agreed-to price for the sale of the Property to Tenants from Owners before the close of business on the 30th of November 2011, then Tenants may continue to lease on a month-to-month basis at the same agreed-to rate of $1,300/month and deducting up to $400 in accordance with Owner’s reliance upon the Repairs Agreement, and Owner’s will credit up to 25% of cash/repairs received by Owners towards the Tenants’ eventual purchase price (less – if any – outstanding credit-balance regarding the Repairs Agreement) but with a total credit not to exceed $3,600.00.TERMINATION: this Agreement will be deemed completed upon the fulfilment of the above-described terms in accordance with the obligations of both Parties.

Gain from disposal of an asset is treated as UDFI if there was debt outstanding on such asset at any time within 12 months prior to disposal of the asset. 

It also requires the title company of the illegal transaction to ignore the outstanding lien in place with the County, which if they do that, they should go out of business.If you are saying that someone randomly filing out a quit claim deed and trying to sell a property is a possible danger you are right, but that has always been a problem and is independant of banks forging documents.While forging documents is not a good thing, who is the victim?

On the other hand, since this is an REO, you can encounter similar results quite often for a multitude of reasons.As for the camping excuse, any agent with outstanding listings should have the brains to place someone in charge to answer and return calls on their listings while away, that is just simple good business practice and most lack it.

The outstanding first mortgage is over $1M.