Bare with me, this is my first blog ever.

Should I offer it anyway even though I am almost sure they will reject it in that it is barely over the outstanding mortgage?

So it meets the 50% - barely - and does not meet the 2%.

We are current (barely) with payments but am feeling that foreclosure is the the only option and would appreciate any insight or advice from those of you with similar experience or the comments of professionals that deal routinely with same situations.

For example, I can ballpark rehab costs to within about 5% in about 15 minutes these days, because I know what to look for when doing inspections and because I'm so familiar with my contractors and what they charge.Now, that doesn't help you on your first couple, and I was in your exact spot about 2 years ago (barely knew how to change a light bulb).What I did was to find a good GC who was accustomed to working with investors, and offered to pay him to visit a couple REOs that I was planning to put an offer on.

People are really happy to see a landlord that cares enough to do more than the bare minimum.

Told the builder to include only shag carpet, vinyl floors and bare bulb light fixtures in his bid (which determined our construction loan).

In fact, it may barely cover the debt service one time.I hope this makes sense?

Right now, we're counting on 750-850 rent which would barely break even, I know.

.: @Chris B. are they anticipating he won't pass the background check?