Here are the details: House list price: $49,900 Estimated value from Zillow: $160K Similar homes in the area have sold for $90K- $130K in the last 90 days Rehab cost: $15K-K20K max Good thing about area is its in a "revitalization" area which means there are LOTS of first time home buyer intensives from the town and state not to mention the government ones.

I keep hearing about people using bailout money to rehab and reposition commercial properties. Is this actually happening? If so, how do I go about securing these deals? Thanks, in advance, to all those who respond :D

Realtors are governed by state laws and also state, local, and national associations.

Better off saving cash and doing little to no money down with owner finance if the loan is called in 5 years and save 30% down.The best loans I see for commercial is 10 years fixed where they will loan 75%,you put down 10%,and the owner carries back 15%.Cash is king right now.It's amazing the government expects a recovery with little to no financing out there.When values can't almost fall any lower they won't lend but when a bubble was happening 100% was all over the place when they should have started pulling back.The government is always backwards in their thinking.

Well, I know one way it can happen....Back in my old home state, when the property taxes went unpaid, the local government had the option to "revert" the land to the state of Michigan.

But with a 400k government lien on it, it sounds like disposal of the property is going to be complicated.

Let's open this up even bigger...take a look at this article...http://www.freddiemac.com/news/blog/ed_haldeman/20100927_fighting_mortgage_fraud.htmlOur lovely quasi government entity... and now our tax money shoulders...Read it...And you'll see this...Freddie Mac’s article is no exception.

They are correct in that the government has put this in to place in order to "help" new homeowners get a good deal, at the expense of the financial institution truley getting it's best price for a home.

Originally posted by James Martin:Investors may use 75% of anticipated rent based on appraiser's estimate to offset against the subject property monthly payment.That depends on which idiot you speak to at BofA (they administrate the VA Vendee Finance program for the government).

They borrow from the Fed and buy treasuries, and effectively get free money from the government, risk free.