If I am the winning bidder but do not " like" the contract, can I back out?

If lender cannot seek liquidation of collaterals securing loan and no one is up to wasting money to open probate in order to have standing, only to facilitate a no-win short sale?

@Matthew Paul It would depend on the lease , but I would bet you are responsible for the oil and if it was empty you would be responsible to have the lines bled .

I'm a finance manager at a car dealership and I can tell you that although the pros (banks) may lend money to a 590, they are going to hedge their bets.

If you are really unlucky she will end up suing YOU as a slumlord and she may win!

There is no win but lots of lose in this type of situation. 

As I was driving home from work tonight listening to Bigger Pockets Podcast 143 (which was excellent if you haven't listened yet) @Brandon Turner brought up a very interesting article that just came out on Fortune.com regarding Wall Street's housing bet not paying off.

Win-win.

Tell them "it's a win-win situation for both of us"  and you're doing this because you don't want s/he or them to have an eviction on their record which will affect their ability to rent in the future.

I've acquired mobiles in the same price range; I'm holding and renting them, but based on recent sales in the same park, I'll bet I could sell them for a good price.