To Jon: I would like to do wholesaling as my primary and pick up some multifamily and maybe do some flips as the economy starts to fuel up (I hope???).

This strategy definitely works and is the RIGHT thing to do as an alternative to what the banks SHOULD be doing in the first place - allowing principal reductions!

The alternative is to invest in someone else's enterprise and let them take all of the upside that is skill-based.

I hope the appraisal doesn't make the deal go south, but how can I word an email to the seller without further adding fuel to the fire (i'm sure he's livid at the appraiser).

I don't think i'd touch this property with someone else's ten-foot pole, I just wanted see if I could let them know of any options, and if folks out there could see another alternative to bankruptcy or foreclosure.

Yes, the appraiser will use foreclosures and short sales if there is no alternative.

Sure, they're higher than you want to pay, but what's the alternative?

What's the franchise bit or is that the preceived alternative investment?

Have ice melt ready.If they have snow thrower, then they will need fuel for it.Make sure your 4 wheel drive vehicle is working.Roofs can be an area of concern.

I found out today that the governments HASP program is a possible alternative to at least refinancing a property even if you are above the mandated fannie mae 4 property limit.