That is essentially the only thing that matters to the bank as it pertains to value. 

I am unemployed and at this point do not know where I am going to come up with $2k to ratify my contract in a timely manner , not to mention an additional $25k ( in the event that I ratify contract & get HML ) I am determined to figure this out and was hoping that you could possibly advise me on ANY possibilities or methods that I am unaware of , pertaining to how to leverage other peoples money .

I always mix up the two and which concept they pertain to, but 1 of them is basically what is owed on the property in terms of leins, and the other is what the bank will accept at auction.  

I would put together a reading list pertaining to wholesaling and focus on your education.

If you have any questions pertaining to the Las Vegas market please don't hesistate to ask.

IRS rules were modified a while back so there is no longer a 1099 for the forgiven income, so that's no longer an issue on primary residences.Assuming that the property was never refinanced...otherwise, all bets are off.There is no legislation pertaining to what the lender may or may not do regarding the difference.

Well this is the other side of the same coin as it pertains to wholesalers: They make their money when they sell, high.To flip another REI maxim that I've seen in a few recent forum threads: "If you haven't insulted a seller with a lowball offer, you aren't a serious RE investor." 

The Bigger Pockets community loves to see your smiling face.Setup alerts that pertain to your city/area and personal investing goals.

Being a newer investor trying to ay my dues I was curious to see if anyone had a direct link or advice pertaining exactly what 'the books' consists of.  

As Is Where Is - no warranty pertaining to the subject property is expressly given or implied by the Seller (BK Trustee empowered by the BK plan) as to the condition of the subject property or title.