I bid on the Fairview property for $96,500 and lost so I'm guessing the sell price ended up being pretty close to what @Mark Updegraff estimated it at around $100k.  

I jumped in head first, and almost lost my shirt along with my sanity.

I’m a CPA with experience in tax preparation for real estate investment partnerships and am currently a property controller for a commercial real estate property management company specializing in the health care industry.

I just completely lost focus and interest in this job.

I am involved in a case right now in Oregon were this exact thing has happened.. the buyer at the sheriffs sale does not have the redemption rights its the MO to move right in and rehab... and wait out the 6 months.. guy that lost the house got an attorney, attorney contacted me there is big equity in this escpecially now that its all rehabbed and the process to redeem is under way.the arugument from the buyer was hey I just spent 30k..

If you live in a rent controlled neighborhood, a month-to-month lease can be an issue if you no longer want them as a tenant.Good luck!

Ask people around to see how many people lost deals over $2k, $5k.......

@Denise CardwellTry applying the deposit to lost rent for the lack of 30 days notice first then damages.Also, the detail isn't in your post, but just in case, never send out a pre-signed lease. even when using doc-u-sign (or the like) you can specify who signs first and can designate your self last.

Hey People,I met this guy that wants to get rid of his property (for what he owes) and i'm a little lost on how to structure this deal.

I bought in 08' for 125k, and I owe 104..... if values are the same I would be close to 20% equity and could refi to conventional with no pmi then go FHA again but something tells me my house has lost a good bit of value!