Hi Everyone - In an effort to determine ARV on a potential fix and flip in an efficient manner, I've asked my r/e agents to send me data extracts from the MLS on the comps.

Placing a offer that would be lower then what's owed to the bank is a essential part of a short sale but my original question was in regards to a subjec to agreement, enabling the buyer to assume all mortgage obligations for the subject property.

See if you can extract any sense of the direction of their moral compass with your conversation.2) If you aren't satisfied with the agent's response, find out who their managing broker is and have the same conversation with them.  3) If this person has no managing broker or you're not able to get anywhere with them, you can file an official complaint with the FL state board of Realtors.  

73% operating expenses is off the charts unless your friend is paying himself out a big salary and retirement etc.Age of the building and location will determine what CAP rate a buyer will pay among many other factors.If your friend owner finances a portion they may be able to extract a higher price.If they want a straight sale from a cash buyer the price will be lower.The scary part is your friend owns an 86 unit but does not know how to go about estimating value.I expect this with investors owning 4 to 10 units but not usually complexes that big.To purchase ones that big usually the owner has a very good grasp of cost and resale analysis.Investor buyers will look at value add with the property as well the current CAP rate going in and projected CAP rate later on.For an older building a 10% CAP is a good starting point to draw interest in many markets.That would put your friend at a sales price of 1,730,000 before resale costs.Really needs a commercial broker in the area that specializes in these types of property.

This $5,000 Referral Fee was earned for locating a note seller and matching with a note investor.Referring deals to an investor for a fee at closing will supply insights and knowledge, enabling you to earn while you learn.

Like you say, you want properties that will pay for themselves right now, and understanding the expenses and buying at the right price will enable that.There are threads that talk about creative ways to acquire properties that don't require much cash.

We are not taking a fee, we are extracting a spread out of the middle.

Assuming your loan is HAFA-eligible, or otherwise eligible for getting pre-approval on a sales price, the most important thing will be to try to get the BPO to come in at a low enough number to entice/enable your renters to buy it.

I find my e-mail fills up fairly quickly if I enable the notice feature, especially if it is a popular blog.

I am a Real Estate Broker in Texas and I mainly just sponsor agents and agent/investors to enable them to have their own Real Estate Brokerage.