The "option" would be worthless to an investor, because every short-sale I've seen requires a disclosure statement from all parties involved that the seller gets $0 at close, and there's no other side-deals going on.

Yes, I agree with Joe Bertolino, get the association manager/board president involved.

Yea I think the agent is too involved in this deal.

The marketing I do is actually very simple, but...I've done it for so long that...I don't even think about it.The biggest number of questions I get involves the marketing.

Just to be clear there is no second mortgage involved.

Sometimes if the home is upside down or the other spouse does not qualify on their own, the lender will deny the request.

You might make a friend, but they usually won't get involved in civil matters unless required to by statute, like evictions that are court ordered.

Update- I've gotten involved in a new "value added" real estate play.

Probably will get denied.

It is worth getting an attorney involved and discussing the intent and allow the attorney to help draft needed paperwork and perhaps resolutions and manager contracts to ensure the protection is sound.Most mortgages have a Due On Sale or Alienation Clause.