I'm sure it needs work and has yet to be looked over or affirmed as a wise investment, but from strictly a bargaining standpoint, is there any advice for dealing with this motivated seller?

I do OK money wise.

Hi @Justin Windham and @James Wise!

@James Wise: Thank you, likewise.

I closed exactly one of my OREO resales to a Naca buyer.... it was a long drawn out process and my experience with the Naca in Mississippi was they were highly discombobulated and a very high % of the folks never graduated from the program. your trying to take chronically bad credit risks and retrain them.And in MS if your going to sell in their program they expected a huge buy down of the rate. other wise they would not recommend us as a seller.. so our one buyer that actually closed I bought the rate down to 1.25%  the insurance payment was higher than the mortgage.. so for the buyer that actually got the home fantastic deal.. for seller I got an OREO off the books at close to retail exit.. as opposed to what happens in cash flow markets were a resale is generally to a cash flow investor for a fraction of retail value, its reality and unfortunate for the seller.In your market at that price point unless you think your selling this substantially above market I don't see the benefit to be a naca seller... but IL Naca may be much better run than the MS Naca

Thank You all for the encouragement and wise words.  

It would be wise to acquire undervalued rentals in these areas and rent/hold until prices increase.My thoughts are, pretty much anywhere within the 610 loop and close to a major freeway will be big in the coming decade as more people migrate to Houston.

I'm going to hear back from my broker at some point this week with more details, but for now, I'm asking in general terms.I am finding, however that keeping one's eyes open outside of what sees as "their" market is definitely wise as the so-called "hot" markets seem to be much more competitive.

@James Wise - appreciate the welcome!

@James Wise Thanks for the reply.