Las Vegas has had a run up because of legislation slowing the foreclosure process thereby reducing visible inventory.

I think I'm gonna wholesale it and propose some positive upside options.

It all depends on the scale of the project, how many contractors you know, how fast they can get you a proposal and how long you plan to remain in the preconstruction phase.

I'll assume you have a mortgage, you mentioned your 7k equity so I assume your note is about 53K.You're screwed again since you drafted the agreement so you'll be responsible for proposing the deal, selling the deal, drafting the agreements improperly, and doing the deal in violation with law.I have no idea how you closed this or even if you did close it, as a title company or an attorney probably would not have done this.Now, you're in violation of IRS tax code for failing to file the transaction on an installment sale.

$100/m going toward balance- can do only cosmetic work during lease period.I need some advice on a counter proposal and also some terms I should include to better protect me from being accused of 'violating the lease' and taking my deposit.

@Andrew Tudor Norwood has passed a new inspection law, but backed off the proposed higher fees.

Just state that "...my proposal is for X total price, paid to you as follows:" Then, lay out how you will pay them.

I find it ironic that both your post and the article you cite, arguing there is no accountability, start by referring to CFPB testimony in front of the congressional oversight “committee session to mark up CFPB reform legislation.”

Their financial position has since changed and they are starting to rob Peter to pay Paul on payments.. aka every month getting further behind.The house Appraised at 172,000 they owe 145,000 only a 7 year old house and when you run the numbers if they ask 172,000 probably settle with 165,000 (96% of asking price) and then figure a realtors commission and closing fees and last year's property taxes (10%) $16,500 that brings it down to 148,500 roughly .At the end of the day they would walk away with $3,500 if they were able to find someone soon enough.My proposal to them is to be done with it right away so they can get out from having a payment they no longer can afford doing a sub to financing offer and give them 147,000 ( they get 2g in cash for moving or whatever they choose) I will turn around and finish the basement off .

*Finance Expenses$50,000 Purchase Pricex 65% LTV$32,500 First Loan@ 4.75% (5/30-year Mortgage)$233/month Principal, Interest, Taxes & Insurance (PITI)*Operating Expenses:$800/month Proposed Rentx 75% (to discount for vacancies, utilities, etc.)$600/month "Discounted Rent"$600 Discounted Rent-$233 Mortgage Payment (PITI)-$235 HOA Dues$132/month Positive Cash Flow