To presume, that in the event of a default, no money would come from the liquidation of the real property is incredibly flawed.

In addition, the statement in your last post where you mention the Title company asked for a cancelled check to show payoff for the outstanding lien is a flawed concept.

Experienced LO's know what to ask and how to approach things usually from that same issue blowing up in their face in the past.When an application has distorted information on it, the Loan Approval, which is how they put a rate and generic terms on your loan will also be flawed.

They came from uncovering distressed situations that needed solutions.

If they are left behind by a tenant (and are in good condition), I'll leave them up, but otherwise the windows are left uncovered for the exact reasons you've already stated.

Downsides are: they park on the quiet street uncovered.

So the analysis was flawed...in my case I was tackling it as a learning experience and it certainly was that.

Some of those drawbacks are not seeing the history of a listing, seeing realtor comments about flaws and DOM type information.

By coming here and presenting the deal as it stands you have a very good chance of correcting the fundamental flaw.

WorthQuiet, older neighborhood with lots of rentalsAsking price $48K, was marketed as a triplexI offered $30K cashDOM 7They countered $40K cash and a short closing date(10 days)I was able to do my own inspectionsDiscovered 4 kitchens and 4 bathrooms.Needs trees trimmed, roof, minor interior repairs and cleanup.Should be worth $80K-$100K when finishedI uncovered a city lien against property for grass cutting(they had to pay for)During title work a federal lien was uncovered(they had to pay for)We closed on the last possible day at 4:00pmObservations:I used a buyers agent to represent myself.