This is my second short sale, first one the bank accepted, so this is the first time I am in this situation.South Florida, single family 2 bed 1 bath home, in fair condition, everything works, no major work needed - but I haven't yet done an inspection, however home is dated back to the 60s, pink bathroom tiles, yellow kitchen counter, you know.First time short sale package submittal for this home, looking at the nearby sale, I say FMV is around 110K.I offered 100K cash. 45 days later bank (Chase) countered 126K.

I know the neighborhood well having lived in the very desirable area and do still have another rental nearby.

For example, in the specific area where my units are, there are two major med schools nearby.

He has no yard, and reading between the lines, there are no updates/upgrades in his house, but still.Houses of the same age nearby that are similarly sized and in similar neighborhoods have been flying off the shelves at $165,000ish with multiple offers.

Actually from living in Deltona and now this area there are several similarities in the general town development that I have seen.Daytona or Orlando may be your nearest REIA, I haven't checked for Deltona but know Orlando is the closest to here.Deltona and Palm Bay both grew very quickly residentially but lagged significantly for the commercial development and relied on nearby cities for most of their jobs and industry.Both have been picking up in the commercial development and as such I believe they will be great locations for investing, but with the note of caution that certain pockets of the towns will lag in value and thorough analysis should be performed for any opportunity.

Not a ton of commercial property nearby to compare.

But in some cases, all of the nearby rentals already include these items, so it can be tougher to get a good tenant when you are lacking something that the competition has.

The other nearby houses with good schools rated are also in $200K range.

Besides the insurance requirement, just because the garage would be off limits doesn't mean that kids wont play nearby ignoring your rules and get injured.

Ideally I would love to meet up with investors nearby that share a similar mentality as me (different is o.k. as well ).