@William Coet I just passed on a property that the price negotiation on got to where it was almost a break even scenario.

This is called a Deed in Lieu Foreclosure or Deed in Lieu (DIL).As an option to avoid a long drawn-out foreclosure process (more painful for the lender than the borrower), your friend might be able to negotiate a deal with her lender to accept the property and wipe the slate clean.

How did you find this deal and how did you negotiate it?

I recognize that my expected return is different than many of the members of BP, but the most successful of investors do not consider a loan on one asset to purchase another asset (whether it is stock via margin, home equity via HELOC, borrowing from 401K, etc.) to be the same as leveraging the value of the financed asset in the financing. 

How did you find this deal and how did you negotiate it?

A residential landlord doesn't necessarily have any influence over the financial success of their tenants, nor do they care b/c they can just re-fill the unit in a month anyways. 

Most of the successful challenges are the result of improper notification, which occurs more often then you think.  

Most Realtors don’t want to waste their time with offers that stand little chance of a successful closing.  

He was interested in me and my success.

I would like to share a success story that outlines the importance of networking and the careful selection of location for real estate investing.