It's the business their in, they determine that the value of the property supports their loan such that should you default they can recoup their money through foreclosure.I know the point of using hard money lenders to essentially vet the quality of your deal has been brought up here and elsewhere many times, however, I think it's somewhat of an outdated notion.

Let's try this another way...You all have taken the time to support my efforts without knowing me and that is truly a powerful and inspiring notion.  

The notion of specialty reserves being a driving force for distressed loan sales is way over used to reality, they figured how to manage that years ago.

Rehabbers contrary to the popular notion they are not real people actually are emotional beings and I will prehab certain houses.

If the Trustee is in charge, they likely already obtained some RE evaluation report, whether a CMA, BPO or appraisal and have a notion of how much they will sell the home for.

basically, the seller writes us a check at closing for that amount.Here's what I totally dislike about this notion: after 2 years, we are still going to have those expenses (hell, they'll almost certainly be higher by then), and we'll have a few more decades of debt service to pay on the property.I'd like to call upon the collective wisdom of the BP community to ask: given the situation, would you walk away?

That way you preserve the notion of the 1033 exchange by similar use.

There is the popular notion that resort/beach rentals are easy money.

That is a false notion.  

Thanks All, It turns out I decided to fire him despite his constant notions that he would put a lien on the house.