It has since been bored up, the county has several violation tagged on the property such as health hazards, sewer and overall poor workman ship.

What is your citizenship status, you may have a heck of a time trying to get in the business!

I would bet that you could make some good deals this way and will be discussing this further with my RE attorney.What's the status of the current purchase agreement and who is the seller?  

I live in Atlanta, GA and work for a Healthcare company that makes electronic health records software.

I believe everyone needs a health care buddy and some people just don't have anyone to fill that role.There's another niche... respite services for the family.

They want to keep the status quo and have little to no issues.   

Alternately, you could look at doing a conversion of tax-deferred funds to Roth status if you want to have more capital in that form.  

ARV is same as purchase price as per final appraisal.Loan status = approved for a non recourse loan.PITI = 765 per mo HOA = 35 per month Property will have a guaranteed rent for 12 months of 1175 (similar properties renting for 1100-1200 in the area )After capex, future repairs deduction I will be cash flowing 140-160Market is growing fast.Should I close on this dealThanks again as always 

However, he is in quite poor physical health for a 60 year old man (very overweight), so I've emphasized to him that this area is even more important than having cashflow.

I been doing Bank owned pre list for 9 years, they have a process they go through after they get possession.Finish all the foreclosure paperLien checksValuationfinally Listing, auction, or portfolio packageThe bank is in no hurry and offering before the list it is a 50/50 chance as they are sometime very unrealistic about value.The best way to get in early is, If you go by the property very early they post a paper taped in the window or on the door that gives legal notice of the status.