We have searches now outstanding over a week and it really is slowing us down on our deals.Thanks!

If you need numbers to better understand, lets say house is worth 300k and the outstanding mortgage balance is 200k so lets say investor buys the house for 200k (to pay off the loan) and lets the owner live there for the rest of his life for free (with an attorney approved lease agreement in place). 

It also prevents issues with lenders complaining "you already have too many mortgages outstanding".

For example, i have just been notified of a $590 outstanding water bill on my property;  bills have not been paid since June 2014. 

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

GO 100% self-employedFebruary- Outstanding 401K loan due within 30 days of leaving W2.

Please help me to understand my calculations.This is an example:Comps on a property = $250,000 (ARV)Owner originally got a loan for $200,000Owner has paid $80,000 on loan so far ($80,000 equity)Owner has an outstanding loan balance (or mortgage) of $120,000 ($200,000-$80,000)Owner is asking for the loan balance of $120,000 + $15,000, for a total of $135,000 (asking price)So, if I have an ARV of $250,000, and I subtract the following (to get MAO):$3,750   >   Acquisition costs (1.5% of ARV)$17,500  >   Sales costs (7% of ARV)$10,000   >   Holding costs (4% of ARV)$20,000   >   Profit (I want to make on flip)$33,000   >   Repairs (based on $15 per sq ft on a 2,200 sq ft property)$3,300   >   Hedge (10% of Repairs)= $162,450 MAO (Maximum Allowable Offer)Then, do I take this amount and subtract the $120,000 mortgage (loan) = $42,450, and then subtract out the $15,000 that the owner would like to have, leaving an additional $27,450 for profit?

So how do i know what is the outstanding balance on the mortgage?

@James Wise, outstanding sir!

I do not have specific numbers but expect that Vegas has a higher percentage of them outstanding versus other areas.