Mario, I don't think you have enough information to make an offer ... other than a ridiculously low ball offer.Find out about monthly maintenance expenses, property management expenses and also what comparable 1 bed/1 bath units rent for in the area along with area vacancies.Unless everyone in the neighborhood does their laundry there, the income from the laundry is vastly overstated.

lol) i heard somewhere that the longest golf drive on record was in antartica bc the ball kept sliding down the ice...enjoy the trip..btw, what does tic stand for??

I said go for cash buyers, not retail buyers (who generally go FHA now).What happened in the past year is not indicative of what will happen in the coming year.Of course, there are some lenders who might still play ball, but the trend is fewer and fewer and it isn't always easy to steer your retail buyer to your lender of choice.IMO, you will spend too much time and effort searching for that elusive retail buyer and lender who will do these flips.

I submitted my offer hoping it would blow the other one out of the ball park.However, the agent I am working with said she summitted the offer and that the bank is looking at multiple offers.Does this mean my offer wasn't as good as the one already on the table?

Well, after checking my crystal ball, it is not certain.

Great exercise Paul, I'll give it some thought between appointments.

Yep you are toast.It sounds like you are trying to lock up a private deal and get them to accept a low offer.What they are telling you is before they accept a short sale they have a servicing guideline REQUIREMENT that the property has to be marketed.They want to see all the different offers to come in to make sure your offer isn't a low ball.

You certainly wouldn't want to risk chasing them away with a low-ball offer.If you can design the web page to accurately determine the nature of the motivated seller, you may be onto something big.

When I leave town I have at least 2 good carpenters on call so if one drops the ball they are fired.

The taxes are 6000 a year in the city so the breakdown would be as Rent 550 (low ball) x3 1650Taxes- 500mortgage- 200-300 (downpayment will be 20-30% on 30 year mortgage)Insurance- ??