A short sale, and all that entails, is the only option, prior to the foreclosure, and only if the lender will delay the foreclosure for the short sale.  

Will shoot you an email shortly.

Hi Everyone - I've been reading through this site to try an absorb as much advice, lessons, and financing information as possible, but haven't found any answers for my exact question.I'm interested in finding hard mon...

If the seller is a private person you may be able to do a short term Wrap ( basically this is you wrap your mortgage around theirs).  

Since you're in Orlando, have you considered renting the rooms via airbnb (short term) instead of regular leases?

It is a short direct flight from New York.  

 Thanks Josh for your input I do make enough money but I just went through a short sale so this is a way I'm trying to purchase one and then I was going to refinance like  William suggested

I've been listening to www.flipguys.com podcasts all sorts of great info about team building and attracting the right realtors for investing.

Based on what you said there is no money in this property whatsoever.You take 105 and add in arrears, legal fees, and all other kind of stuff a lender tacks on and then add on repairs the property needs there is no money.Might could do a short sale on it.

Our latest flip was in Riverside, but we are currently working on one property in Long Beach and will begin shortly on another property in Los Angeles.