I think it is important for all the "johnny come lately" types to realize how long, painful, and nerve-wracking the short sale process is.

The nerve this hedge fund manager had to say that to him.

Go in and get the keys and any info you may need (copy of leases, tenant contact info, etc.) and make sure the next person to manage the property has everything they need to do the job effectively from the start.If you signed a contract with the PM, then you'll need to examine your obligations outlined in that agreement and any "out" clauses you may need to reference when telling the PM you're changing directions.

When you do something like that close to the sale (within the same year or so) The IRS may look at it as an attempt to take out profit ahead of the 1031 (of course if audited and examined). 

Assumption is to keep this as a commuter condo rental investment property after we move out and start having kids.Now, if I were just examining this as an investment property - I would probably have passed on this (aside from just being a condo), but noting that we're moving in anyway in <1 year, having someone else just pay the mortgage for the first year while we gained equity would have sufficed.

Hi everyone,I'm about a week out from taking my real estate salesman exam in MA, so I'm completely new to real estate.

I see you are new to the site: getting active can help settle those nerves and get you great advice and feedback!

I can talk to one person about Anacostia  and they think it's the most horrifying unmanageable battle zone not worth examining.

Here is an excerpt from our rental criteria, so you can get an idea of what landlords who would consider renting to someone with legal history might examine.

Something you ought to consider is the lack of an interior examination of the property with an AVM.