Here are the factors:(1) house probably not worth much more than the first note and possibly, part of the second (with interest, penalties, attorney's fees, etc.)(2) house is occupied, not by the owner, but by a "tenant" who has not paid rent for a year; but has put about $50,000 of improvements into the house (he originally had a contract for sale with the owners)(3) wife (house is co-owned with husband she is divorcing) has filed for reinstatement of bankruptcy (her first petition was dismissed) and we won't know until we get to the courthouse if the petition is reinstated(4) there is an IRS lien on the husband which has been filed on the houseFurther facts and questions: (1) will reinstatement of the wife's bankruptcy stop the foreclosure?

My initial reason for contacting the AM was to try and buy that lesser asset for the same 72k i purchased the one next door but they wouldn't let that happen so I tossed on my agent's hat and took a lesser lead from our trustee listing and made someone happy.After trying maybe a dozen times and having very limited success I abandoned the practice of dealing with AM's directly unless I was just trying to get a listing.

That kind of talk would make good evidence against you in an unlicensed-practice-of-brokerage prosecution.To do a brokerage deal, you must have a brokers license or be a licensed salesman and be affiliated with a licensed broker.

I'm pretty well rounded in this department (I practically built my own home), unlike many property managers that don't even know how to change a light bulb.

To answer your specific question, property taxes and insurance ARE part of the operating expenses.Operating expenses do NOT include Principal and Interest, capital expenses, or depreciation, (although in reality you should consider an allowance for capital expenses in your cash flow analysis).From a practical standpoint, you subtract the mortgage payment (P &I) from the NOI to get your monthly cash flow.

In practice, however, the self-interests of the cherry picking few are in conflict with the folks who simply want to get back on track and save their homes.

We will continue to work on it to improve the experience for everyone.Thank you all for your feedback.

Theorectically any time you buy or sell a house you could be involved with a lawsuit, but to say oh don't buy houses because you could end up in court if so and so happens just is not practical advice.I have never heard of someone refusing to sell when there is an option, and not that it isn't something to process, but to conclude that sandwich options are a VERY RISKY investment because of this possibility seems kind of unfounded.There are risks involved with all investments and adequately and accurately assessing those risks versus the rewards is key to success in any endeavor.

Having just gotten it my plan is to make some improvements.

But as a practical matter they need to start packing.all cash