My answer would be yes for the INITIAL bill; however, after that they are on the hook because they failed to tell you there was a problem and now 3 months later, they are letting you know.

After speaking with the bank, I may be DTI limited instead of LTV limited anyway.

I have a second home that I use as a STR in the Outer Banks, NC.

Well, the reasons given generally fall into two categories - either tax benefits through an “installment” sale or obtaining an interest rate on their capital greater than what banks are paying.In my 45+ years doing real estate deals, I’ve found maybe once that the tax argument was considered by a seller; further the “greater than bank rate” argument is completely irrelevant because - the proceeds of a property sale were never going into a bank account, at least not most of the proceeds.

The local bank that we used for financing was a bit annoying at the end but it all got done, more headaches that you should have been but not the worst.  

If FL was going to be under water in 10 years , they said that 20 years ago, then the banks would not give 30-year mortgages.

Banking on a hope that "if" something that you can't control happens, you "might" start to get positive CF starting in a few more years (also losing money) so you might recover all of your losses in about 10 years, is ridiculous. 

Justin,Majority of lenders Reimburse rehab, no different from a bank.

The purchase was $375,000 and the rest was used for renovations.My cost bases in the building will be around $740,000.I refinanced the building with a $900,000 loan.I have an offer on the building of $1,400,000Total capital gains would be about $660,000So, my question is after selling the property (for easy math) lets say I walk away with $500,000 after paying off the bank loan.

However as a seller, Selling your home in the years 2008-2012 was not good due to the glut of homes on the market because of so many bank foreclosures.