Compare the FMV to the outstanding debt, taxes included, and see if the deal still makes sense. 

She is outstanding.  

The ability for the seller to help pay off some of your debt to help you qualify comes into play if for example the new principal and interest payment on the property you are looking at is $400, but you also have a car payment of $300 per month with an outstanding car loan balance of $5000, you would not qualify because your total monthly debt obligations are $700 and a maximum of $420 is allowed.

Jd Martin thanks for your reply ..here are the numbers The house was bought for 275k(20%down) Mortgage amount 220kCurrently outstanding 115kHome market value -330kNew Investment house value -770k20%+ closing =160kI was thinking if I refinance and get loan on equity built in house I might be able to buy the investment homes ...does that makes sense ?

The county population growth is great, the public schools are outstanding (which draws in quality families), and its an easy commute to work in Mobile, AL. 

If that's the case in your location, there may still be outstanding inspections that would need to be completed.

I'm the super & renovator.Here's my riddle: I made an offer on a nearby 3 unit property with good numbers (7.7 x rents) and a good but not outstanding location that had gotten better in the boom.

Not sure why Joe thinks this physician is crazy, sounds like his return may be outstanding and security position strong so I congratulate you on your recent success.

That's filed when the mortgage is paid off.There can be multiple mortgages outstanding at the same time.Many different types of liens may be placed on a property by various entities.

If they buy the NPN cheap enough, a short sale w.r.t. the outstanding balance may be still be at a profit vs. what they paid for the note.