I hate being the low guy on the todem pole asking questions that probably should already be understood up to this point, but I need clarification on what seller/owner financing is and how it effects both the seller and the buyer and basically how it works?

For the record, this is basically an abandoned park with currently no activity.

So the bank basically told the investors on the second loan tough luck.

As I understand it, he basically applies for loans on my behalf and presents my situation favorably to the lenders.That seems like it would be very helpful, although paying him $10-20k for such a task seems very generous.

I manage a 42 unit complex that basically "we" (me and 4 board members) took over because of losses from foreclosures/bankruptcies in the 90's.

There is a system out there being sold stating that you can contact property owners who are delinquent before it goes up for the tax sale possibly buying the property for a token amount, assuming the taxes, recording the deed, & then turning around flipping it for a quick profit NEVER actually paying the taxes but rolling them into the price where it's still a bargain.Or buying the tax deed for pennies basically, recording the deed, then letting it go up for auction.

http://www.december212012.com/First thing I found quick, but it is basically derived from the Mayan calendar.

The only thing that I would do is to insure that the tenant still has heat on for the winter, so that the pipes don't freeze.

In these complexes basically everyone is flipped and many are walking.

So basically in order for a deal to go through, the seller will still owe money and would have to get some other type of loan to pay off their mortgage.Are others running in to these type of situations?