Scott, I don't want to point fingers. 

Everything that you need to know is at your finger tip.

Cross your fingers, toes, and eyes for me, that these folks make a good offer.Ofgift

So it's pretty much a "cut off the finger or lose the whole hand" scenario for them.Of course we ARE talking about BofA, so don't expect logic to rule the day when working with them.At the end of the day, the BPO appraisal is the most important piece of the puzzle for the short sale, because that really does determine what price range you'll be able to buy at.

I'm worried that this wouldnt be a good rental -- there are a ton of upgrades in the home - built in movie theatre room, an expensive staircase - just the oils from fingers leave tons of marks, same with all the cabinets.

We say that we're 'wholesaling' to build cash reserves, even though marketing requires money spent over time to be successful (I'm mostly pointing a finger at myself here).Others have some cash but don't have the patience/experience to wait for, create, find, or even recognize a true 'deal.'

(http://www.car.org/newsstand/newsreleases/2012releases/2013forecast).Keep your fingers crossed!

So, I'm keeping my fingers crossed.Thanks a lot, Paul.

Cost of money and use of funds play here and that is not constant.I see cash on cash returns, return on investment after taxes as a better yard stick to past performance and that historically guides you to new deals, what you should hit to increase your business.Frankly, I didn't have much time to sit and play, like Midas running his fingers through gold coins, it's interesting to push numbers, if you enjoy what if's and analysis, but that isn't making money!

:wink: However, my fingers and brain were apparently not in sync; I meant to ask if he could do a refinance to cash out all--or at least a portion--of his original down payment (for the current property), roll the gain (50K using your example) into the next purchase via a 1031 exchange, and not generate a taxable event (by deferring the taxes on the gain)?