I later heard but never exactly why, that the place was an absolute money pit and the buyer, who was very experienced, regretted buying it big time.It is interesting, but I ALWAYS do at least a bit of research on the prior owners and have found few "hard luck" stories, at least as far as either higher or high priced single fams go, they're by far the same story where the owner makes the financial decision to walk away, mainly due to the insane HELOC's etc they were giving out, like 125% of home's current value back in like 2006, so now they'll owe literally like $750k on a home that IF in great shape would at best fetch $500k, PLUS they trashed or semi-trashed the place, so they'd be really lucky to get $400k as is and often they may be business owners or whatever and have a relationship with a local bank who will then know "the whole story" behind the big hit they take to their credit score and not treat it nearly as harshly as the average Joe, who's practically banned from even entering the bank for years!

"We've been trying to reach you about your car's extended warranty"98% probability that this is spam from some bait and switch lender who's also buying trigger leads by the metric ton.

And that's the harsh kiss of reality, right, ya get what you pay for.... 

Before you pull the trigger on anything I would get some training or find a mentor in your area willing to show you the ropes. 

I've heard the rumblings of several states pushing for time limitations and out-right disregard for history but hadn't heard of anyone pulling the trigger (pun intended) quite yet.I would be happy to share our published rental application standards (defined for central Iowa, reviewed and approved by local real estate attornies) if anyone is in need.

Only a sale will trigger the tax.However there are a couple issues here.1.

Should have pulled trigger two years ago!

I had a gun pulled on me doing that, but we sorted it out before he pulled the trigger. ;-) 

Bashing Loanman, Missingascrew, & Art Vandalay does nothing but further provoke the harsh criticism you shall receive.

This might sound harsh but not intended to be.