I can't immagine that they can get you stuff sooner than a retail store or home depot or get you better pricing, seems to good to be true.

The value of the property was 100K when I purchased it but is now worth 250K-270K.I do understand the true cash flow is not $400/mo.

YES, If it sounds too good to be true, it is!

I was told if the offer is also included with the prequal/approval letter from the same lender who own the property .. it has more merit than offers with approvals from different lenders since the lender who own the property can recoup some of the losses through their own loan .. is it true ?

Originally posted by "cvg":Another way to possibly getting around the deficiency judgement is to put inside of the purchase contract that is agreed upon for the short sale, that the bank will not grant a deficiency judgement to the seller.If the lender is agreeing a true short sale there will be no deficiency judgment.Second, the tax impact of any debt forgiven is not tied to any discussion concerning deficiency judgment.

That is not true when holding a rental with negative cash flow.

Because something is better than nothing...That's true.

Many states have laws to target landlords who are more cowboys than true landlords.John Corey

They want proof of funds which I have a letter from my HM, but it's clearly not the same as true cash, so maybe a heavy deposit would lean it my way?

You might have to pay for the conversation but you will get a true legal opinion.John Corey