... and from my experience lately, make sure you scrutinize your estimated seller's proceeds HUD, we had a mickey mouse club situation where escrow was not following contract and was having seller pay for home warranty, and other misc fees which we did not agree too, it's like they were modifying our contract to their little heart's content!

Do you have to warranty them and such?

(under warranty) I've built 10 and now beginning to sell some to the tenants.

The rule is valid.

So, while I think your short term issue is how to get to this point, its essential you construct a set of projections for the rents and expenses for these properties one they're up and running, and validate its actually a profitable business.

Also, most judgments are valid for 10 years, and mine is good for 20 years (varies by county).

You have a lot of valid questions.

The HOA dues could be assumed and excepted at settlement with seller financing and a special warranty deed, otherwise with the option or CFD, such can be assumed and paid when you sell it.

Did the bank think it was funding a deal with someone else before they got their security and closing documents executed that were valid?

This same question has been asked several times here on BP.Read this thread, it is most valid to answer your question.http://www.biggerpockets.com/forums/103/topics/43377-does-anyone-have-a-general-short-sale-package-is-there-one-that-is-fillable-electronically-thanks-guys-