Crazy-town.For every flip tax that stops a flipper, there is a buy and holder to take advantage.For every condo that can't be converted, there is an opportunity for potential TIC.For every tenant under rent control, there is a discount (sometimes significant) built in to maneuver to full market rents.For every migraine created and ridiculous law implemented, there is another long-term millionaire made.

But then they credit that cost back to youThen go on ebay and buy a 10% off coupon to get an even further discount.

I have seen manufacturers discount their product(s) up to 75% off because they know they are competing for the business.  

Smells like some opportunity, especially if you can get a deeper discount.

Usually, if you can buy a property at a discount including the repairs and the cash flow makes you happy, you can call that a good deal.  

Do you mean to buy properties at a discount then resell them?

You might be able to save money if you self manage, or as in my case, my manager gives a discount from 10% to 8% once she started managing more than 5 units for me.  

If you foreclosed on the 2nd, then you'd be the owner, negotiating a discount on the 1st as the owner (as opposed to the borrower).  

While searching for options for an HELOC, I found this deal at Navy Federal Credit Union. 95% LTV (less any existing mortgage) for personal residence; 70% for investment propertiesRate as low as 3.99% depending on credit; .25% rate discount with direct payNo closing costs as long as you keep the line open for 3 years; it stays open for up to 20 yearsYou can see the details on their website.

I'm deep in our market and yes, i've had offers quickly on my flips, and I've had houses take a year to sell.