If its underwater, youre on like strike 5 with the deal.  

We did, however, strike gold on a typical SFR in this area.

But as you will hear on almost every podcast, there will always be a learning curve when you start out - hardly ever will you hear someone strike gold on their first deal.  

@Jd Martin I think you were forgetting that the price of an asset is determined by the perception of value and that could change in lock step if panic strikes.

Now you are ready to move on and strike out on your own.

There are a few by interbay and MacDill, some in port Tampa, a row of them off Habana north of bay to bay, but again they do not become available often.You could do yellow letters to those owners, and see if they would part ways, or wait until something in your strike zone comes available. most of these are going for top dollar, so be prepared not to find much of a discount.

But, if I were to come across a stellar deal, I'd strike!

A good broker will keep you apprised of rates each day in your strike window and will have backup lenders if your bank decides to pull a bait and switch after you are locked in to an appraisal that one lender has to "release" (even though you paid for it) to go with a competitor.

If other banks and seller finance strike out, you might look for a private money loan.

This opportunity strikes me as a bit more hands off due to existing long-term tenant and a neighboring bank that appears to control the property, but it has a potential downside.I am very interested in your opinion on this unique situation.