Like I said, it sounds like a SS...she didn't say anything that explained that fact away.I even asked if the seller owes the bank more than what the home is being sold for and her answer was yes.Perhaps there's a more specific question I can ask.But I'm wondering if I should simply treat this as a short sale and make an offer like I would any other SS, or should I be leary of things going awry?

Going after multis is more targeted so I'd suggest a more personalized campaign that included mailing and phone calls.

Should I just get the cheapest single pane type I can find, or would there be any point in getting a more expensive "low e" glass type or double-paned?

You can use the FMV after holding the property for a length of time to the point that the FMV may be a more accurate representation of value than what you have in it, since markets change in time.

This in fact makes sense intuitively as well because an REO in good condition is a more marketable property as buyers consider it almost equivalent to a retail property.

It is said that history tends to repeat itself and it is also said that only a fool would make the same mistake twice, so your guess is as good as mine.If we ever have massive RE appreciation rates in the double digits again, I would venture to guess such a scenario would not take place for at least another 2 decades or more, but I was wrong once before (wink, wink)Kidding aside, I believe that once we are over this "correction" and get through the massive amount sof lender owned properties, we will encounter a more steady and reasonable price inflation of RE.

Even a more objective exector will still probably want to get a decent value for the property.

So some people have 500,000,1,000,000 already that they made in stocks or another profession.What they usually don't have is time to manage flips etc. and want a more turnkey investment.I have clients that are very wealthy and they are selling because they are at the end of their life and want to retire or they just want a credit rated product that will keep up with yearly inflation.In the beginning you take more risk to build wealth and later on minimize it to preserve it.

I am going to take down the wall between the kitchen and living room to create a more open feeling and install an island.

But this is a more valid argument as it applies to SFH and condos rather than multi-family.