You could still have a case of equitable interest and, with a sufficiently knowledgable tenant/buyer, may end-up exercising power of sale or foreclosure to regain possession.

So I had to pay for another appraisal (that came back right in my range).Bottom line is that there has to be a better way to enforce some of the appraisal rules.

We're looking at buying a few apartment units or small SFH that are in the 50-75K range (ready to rent with minimal work) and are finding that most conventional lenders don't have interest in loans that small.

It's a range using only a few factors.

It even is sufficiently detailed that it populates the 3.533 number right down to how many days there are in the current month and even knows leap years.But the stupid little worksheet does not do that.

There is a shortage for homes in the 100-200 range.

Hard money/ private money would have relatively short period to provide loan in the 1-3 week range.

I have  a full time office person do an initial scrub of properties based on criteria then the possibles are sent to me.I not only do multifamily but also retail with STNL and MTNL and look nationally in various price ranges.

We use listsource.com primarily to search for leads because we are able to target a certain area and narrow down the results based on specific criteria such as bedroom count, equity %, median price range, etc. 

The comps range from 150,000 - 192,000.