I would then tell him/her that the numbers don't work at the current price, and rent...I would show the Seller your initial proforma off the actual income.Then I would discuss options...How about I agree to buy your property at this price, and you agree to work with me on raising the rents over the course of the next 3 months we work together in order to make the property cash flow. 

I've have many discussions about trying to remove at 80%, or 78% of the initial appraised value and they're not having it, though I don't want to refinance as it's at 3.5% over 30 yrs.  

Is there some resource that discusses the scenarios under which the transfer does or does not create a capital gain? 

Thinking of obtaining a property through seller financing, since they are giving me such a low interest rate and low price in Phoenix, Arizona. 

I have called the state\epa and discussed what is needed for operation of treament plant, confirmed the certification and validated all but rent roll.Barring rents panning out and with the possibility of rehabbing and renting the existing vacant 4 units this appears like it will cash flow well and  have some significant upside with 10 more lots to be filled potentially. 

What happens when you fail to obtain a buyer for the wholesale property?  

The rub is they can't sell them because of how they obtained them but they can give them away.

Regarding short sales specifically, not sure where you’re getting your information about it being harder to obtain a waiver of deficiency lately.

If you want more details to see if you are a good fit for the program, let me know and we can set up a phone call to discuss. 

What are the main things to focus on discussing during those calls?