Hello everyone,First off, I just wanted to say thanks to the BP community for helping us learn so much about real estate investing. We feel like we have all of the tools and knowledge that is needed to make our first ...

He's a direct lender (which seems to help a TON), and was able to do something I HADN'T (shockingly) considered:  a second mortgage. 

I have some rehab experience so I personally do a preliminary inspection to make sure I want to go to step 2 and pay an inspector or walk away from the deal.

I guess I am just shocked their realtor didn't let them know the issues and it was getting worse over time.

I have 3 prospective lenders in mind, but preliminary discussions with them have not yet occurred.

This way when you make a lowball offer on something, they won't be shocked.

Ask you attorney what is most likely there.You can buy the interest, but don't put a dime in it until after the settlement, not even taxes.After her initial shock of the sale and learning of the intent to force sale, understanding that she can lose, be liable for costs and fees, half the taxes` due and costs of sale, she will be ready for an offer to sell and not go there, which has always been my experience.Another tip of sorts, I explain the situation to my seller and I use a balloon note to purchase with the note being due at the agreed outcome, sale or auction required.

I'm also in the DFW area and when I decided to look at some 2/4 plexes, I was shocked on price.

[i]"Fed Extends Rules to Small Lenders:The Fed shocked bankers by approving a proposal that would force even the smallest lenders to comply with international bank-capital standards known as Basel III."

This is one of the more shocking realizations that I found when getting into the rehab business.