Some of the benefits to you include-Avoid foreclosure; don't ruin your credit score or ability to get a loan in the futureI will pay off the outstanding loan balanceI will pay you a lump sum of cashYou can choose to remain in your home and pay market rentAll house repairs and maintenance will be taken care of for youI will come by on Wednesday evening at 7pm to discuss the details of this letter with you. 

resale's in area are 175K+ but with the unknowns ( no walkthrough, occupied, unknown closing date...)Additionally I found about 5K in additional HOA liens since it appears with the special deeds the new owner will assume all outstanding debt..I do have several properties in NY with some experience but this is a different game and appreciate any feedback.Many thanks, Peterd

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges and fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent."  

Down side is computing interest on outstanding balances and accounting/servicing.You could make it easier requiring an amortized payment and simply disburse the entire loan amount up front, but I would still make it a future advance loan so that you can extend future credit without having a new loan closing and modify the note with an addendum or subordinate notes.

I also think that Sean H. and Joshua Dorkin gave two outstanding web resources out to the readers when they mentioned Hubspot and SEOMoz.

What i learned while i was getting my master's in real estate from NYU was that your basis would be atleast the debt amount as that will stay on the property and when you take the asset via a quit claim deed (this deed means that you are taking it subject to all outstanding liens).

The Outstanding Public Debt as of 31 May 2009 at 11:00:12 PM GMT is:11,323,208,688,939.66... and counting.So where do I submit my short sale offer?

Also, there could be outstanding debt, like credit cards and such the deceased left behind.

Meet with the tenant and hit the reset button where you waive the 250 outstanding but the tenant signs an affidavit saying the water problem has been fixed by the landlord and tenant is fully responsible for future water bills.You do not want the tenant to keep coming back to this again and again as an excuse.

The price for this area is outstanding but I think the utility issue is a definite concern of mine.After converting my LL into a 2bdrm and bringing my rent from $150/door to $250/door, refinancing to take my 20% down payment back out and 1031 it...does anyone see a problem with that logic?