Account Closed  Bed side manner aside from Curt or Alex posts .. unfortunately its reality.. and real world... its not the house its the people that live there...

If my offer is a taste of reality and they don't want to accept it, I am fine with that.

But the 2nd lender realizes the reality of maybe getting nothing if the first mtg holder forecloses.  

I agree with the previous poster not to panic. situations like this probably arise a lot in your area where sink holes are prevalent. and pulling a permit doesn't mean that there necessarily is a sink hole. for now come to terms with the fact this will cost you time and a little money but you'll likely still come out positive when the house does sell

At times, I get super excited and try things but then reality sets in, or a financial hurdle hits us, and we are back to where we started.Here are our main questions: How can we buy a house and start building equity instead of paying rent?

In all reality I can put money into the stock market, buy some tax dererred munis or purchase more properties and put them in my rental portfolio to enhance my passive income.

When I was on the development side I got a lot of bankers that expressed interest but in reality all they wanted to do was have lunch.  

A low offer can be necessary and it also creates a new reality for the seller.Frank

No matter how small the apartment, there is always a kitch sink that will leak and a toilet that will overflow.

I’ve pretty much ruled out LA for myself for 3 reasons: 1.Low cash on cash return for buy and hold investors2.The high cost of properties means I would have to sink my cash into one property versus multiple smaller ones.3.The places that can cash flow are in high crime areas (Compton, Huntington Park, etc.) and I prefer to minimize evictions and turnover.