If the seller's contract had a subject to clause then they weren't authorized to let you take over the loan without CW's authorization.The worst that can happen is CW will call the loan due, usually 30 days but negotiable; you will lose whatever money you have invested if you can't pay off the loan; and the sellers will get a foreclosure on their record if they can't pay off the loan.If there is enough equity in the property you may want to try paying it off or selling it.

The author has so many papers for each tenant to sign prior to moving in and his app is like 5 pages - just curious on what you guys use?

Paul, buy the book:Buying Real Estate Without Cash or Credit (Paperback)by Peter Conti (Author), David FinkelIt talks about ratios/percentages as well as gives scripts.By the way, where are you getting this large fsbo list?

I think everyone should have of copy of "The Creature from Jekyll Island" Although, since it is out of print (hmm), here the author lays it out nicely in this you tube series.

I'd be interested to hear it's true value based on 1/2 mile radius, last 6 months sales of comparable properties and all that good stuff.

The area can support rents (in a comparable property) of 850-1000$/mo + utils.

Expenses should be minimal compared to residential, though you still have quite a few.

Here you can select the comparable properties you think match your property best.

to get maximum exposure to the market.Also, the pricing of the short sale will be fixed by the bank in a Broker's Price Opinion (BPO) according to the comparables, so no matter what price your homeowner agrees to, it has no standing when the bank names their price for the house.I only way I can see you making money on this is if you either refer it for a fee to a short sale specialist in your area (please check to see what the referral laws are in your state) OR buy the house yourself if the BPO comes in at a good price.

You are comparing apples to oranges.