I have worked many short sales and I can tell you all the big banks require an arms length transaction.

A sale for $1, or $100 is typically a QCD between related parties, certainly not an arms length transaction.As for the FSBO, nothing odd about that....but there are guys buying junk tax deed properties all over the country, that don't have clear title, and look to sell them to suckers who don't do a title search and accept a QCD.

If you contract out, I would highlight not getting locked into a long term contract, no negative option renewal and keeping in mind that the supplier has to make money as well.The contract I signed was for 3 years, explicit renewal after the initial term with an out clause if they do not respond to 2 emergency call outs in a row within 24 hours, flat monthly fee for all servicing and emergency call out and a laundry card based system (reverse ATM) included.

The CPA business just got a big shot in the arm and their bank accounts, LOL. :)

@Sammie RennaGo to IREM.org search for ARM certified property managers.

Go to IREM.org search for ARM certified property managers.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookGo to IREM.org search for ARM certified property managers.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookGo to IREM.org search for ARM certified property managers.

NRL lenders typically require much larger down payments, hefty cash reserves in the account, and generally offer 3 - 5 year ARMs.

@David YuGo to IREM.org search for ARM certified property managers.