They got a fat check and just left all the smoke & water damaged items behind.

Hello @Alethea Bell I am not using hard money funding to acquire the property.

http://grammar.yourdictionary.com/spelling-and-word-lists/misspelled.html I did get a belly laugh out of your first line. ;-)

Your living expenses is probably another $1500 conservatively w/ fat ($2500/mo needed total).

Is like having a big fat savings account and you only pay interest when you use the money.

Usually that conversation starts with our real estate projects and I always mention how we make sure our private money lender is taken care of, and he is fat and happy at 10% return on his money and just wait for a response.  

Lol, Travis, That day is coming soon and don't be surprised when you get that fat check for the tax deductible donation I make in your name.

Note holder isn't selling a 150K property, just the note value, the home value (ltv) is good security against that note going belly up, if that value is correct.  

Leaves a good fat spread on the line for our investors as well.

Simple, the waited for the weaker competitiors to go belly up and then bought them out of bankruptcy for penny's on the dollar.