You just need to make sure to set a time table for your wife to refinance so the deal sounds pretty damn sweet to me.

This is in addition to the return achieved by the RE value increase due to the value add.It takes work to find RE that is a low risk and provides outstanding return in San Diego, LA, or OC (if it does not project at least 20% short-term return then I am not interested - goal is getting at least 50% short-term return). 

Simply put, they were willing to give 80% of assessed value minus whatever was outstanding on the current mortgage.  

Or does the bank only get to keep up to the outstanding amount of the loan that was foreclosed upon and the excess still goes back to the original borrower?

Regarding funding the down payment with a 401k loan: You would have to confirm that your 401k plan allows for a 401k participant loan (and that you have not had an outstanding loan in the last 12 months).If yes, you can borrow up to 50% of the balance not to exceed $50,000.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).

This is nice since Airbnb doesn't seem to give a damn about hosts, always takes the guests side. 

(about 215k)-Unlisted Sale Price: 600k (buyer pays all closing costs)-Outstanding Loan: 175k (Seller A has been paying this alone since the inheritance, about Aug '22)-Current Mortgage: 1650/Month (with PITI) on a Variable Rate product through Fargo-Home needs rehab estimating 75k-Current Comps show an estimates value after repair of $800k, conservatively. 

Well that is $24K a year and if your property is paying all costs including the mortgage, well your return is 48% on $50K, that is pretty damn good. 4) Many of those who got rich I would guess got rich more off appreciation than cash flow.  

Listen to your customers better.SHAME ON MARTY BOARDMAN (FIX AND FLIP HUB) AND SHAME ON PAYPAL.I will be blogging all this info everywhere this is a complete scam and a damn shame Pay Pal allows this to happen, very pathetic and so easy for scammers to win here.

Saw a place in Dallas recently that more or less has $250,000 condos, but there is outstanding $25,000 special assessment which the board says may or may not be the end of the issue.