Originally posted by @Greg Scott:There was someone on this forum that was trying to use crypto for his downpayment. 

For this deal to work under those conditions, the purchase price would need to be closer to $179k.With your original assumptions 249k, the deal is marginally acceptable but not great, given the negative cash flow in the early years.

I'm the same way, I'm originally from Portland Oregon and moved out to a new real estate market for this exact reason. 

Happy to answer any questions about the situation.Please be safe and stay away from him, or any companies he is involved with.I want to make a correction to the original post.

I already have land holdings near Everett that will certify out at 304 salable density bonus credits.To play this game, I get certified and then "clip off" the transferable development rights for sale to urban developers in the county, who can cash them in for an increase in dwelling unit density from an original 22 units/acre to 58 units, and building heights from 45' to 75'.

Foreclosure sale could sell at same price as original purchase, but with accrued interest and fees, all LP equity gone.At the end of the day, all LPs loses boil down to an issue with cash flow available and/or a decline in overall values.  

I originally used liquidity from a refi, HELOC, and a personal LOC to make the purchase and then refi'd that money out after closing.

The second lot had the remnants of a tennis court the original owner had built, but was now in disrepair.  

My original loan amount is $323K, balance left $319K at 7% and 28 yrs and 8 months left.

It is not uncommon - main reason we see right now is over inflated original ARVs and now borrowers cannot sell and pay off the lender.