He is in discussions with a bankruptcy attorney, however he would prefer to avoid filing.

I was thinking if I could get a few friends together to pick up this building in bushwick on bankruptcy auction tomorrow it could work out nicely.

Currently, Bozeman is getting a large influx of money and investors, and Big Sky has picked up since their bankruptcy (this is fascinating to read about if you have a moment). 

On time for appointmentBROUGHT NECESSARY ITEMS: Identification, application information, references, application fee, holding deposit...Filled out application completely and truthfullyAble to verify all of the necessary informationAble to pay full amount of rent and depositSufficient monthly income of 3 times the rental amountVerifiable income and employmentStable income or employment for a minimum of _____ monthsFinancial obligation of no more than _____% of incomeSatisfactory credit history (no bankruptcy)Provided credit referencesAt current address for a minimum of ______monthsGave proper notice to current landlordGave proper notice to previous landlordNo prior evictionsNo problems with previous landlordsDeposit fully returned (none withheld for damages)No complaints or police reports regarding disturbing the peace, etc.No significant violations of a previous rental agreementNo pets or is willing to sign a pet agreement and meets additional pet criteriaNon-smokersHas a Delinquency Rate less than 45% based on Credit Score Analysis performed by Tenant Background Search.Has a credit grade of B or credit score of 620 or higher per Tenant Background Search.

My agent called the selling agent continually at my request, but got very slow responses with little content.One last thing: My agent was told that the owners were filing bankruptcy before the sheriff's sale and the day before the sheriff's sale my agent said he was getting nervous since he never got verificatio0n that the papers had been filed.I'm in PA by the way.

LOLFirst, you say negotiate, what's the deal that you think there is anything to negotiate....foreclosure, bankruptcy???

Try direct mail to out of state owners, landlords who have done a recent eviction, probate and bankruptcy lawyers, all of these are good sources in hot markets.you can also look for vacant and abandoned property with code enforcement, police, mail men, and garbage men, all of those guys make great bird dogs.  

.- Voided liens get lower interest, receivership can wipe out a tax lien. 4) Deterioration of vacant properties5) fire for vacant or uninsured properties 6) Bankruptcy tying up you money an possibly reduced interest. 7) federal tax liensI have had problems with 2-4, never had an issue with 5-7.

but i have clients who have serious bankruptcies and delinquencies that have great scores too.

There's lots of good folks with good jobs but a medical bankruptcy or other event in their history that locks them out of a bank mortgage.