I have been looking for apartments below 150 and from all of them found the below deal the best option but wanted feedback from the BP community.Here are the deal details :Purchase Price: $129,900 Bedrooms: 2Baths: 1 full, 1 halfBuilt in 1974HOA Fee: $228/moCooling: CentralHeating: Forced airLast sold: Mar 2016 for $105,000Taxes (2015): $1341/yrMaintenance incl: Water, Insurance, Trash and sewerFEATURESBasketball Court, Doorman, Elevator, Flooring: Tile, Garden, Patio, Pool, Porch, Tennis CourtDescription:The perfect investment property!

If not, my client will be forced to immediately file a motion with the court by placing a lis pendens against the property requesting specific performance of the sale.A couple of hours later seller's attorney rescinded the cancellation of the Contract. :)24 hours later, a listing agent congratulated me on getting this deal (yeah, right), and asked a favor to delay the closing date as the seller has no place to go yet.

Do they auction off houses on the court house steps like they do in the United States? 

I'd like to stand firm or I hear Mike's suggestion to throw it back in their court and counter back $5k under.

I walked the property and noticed that it was creating a swamp, rather than functioning properly, and pulled all septic permits since 1969.

You can proceed with eviction if you wish, but in CA the courts are always backed up so it might take some time, even with a default.

Now rather than losing money by having the equity sitting in the property you have converted it into a revenue generating function AND you are utilizing debt to to generate revenue as well, without decreasing your cash position.  

This has yet to be tested in the CA courts as it is a very aggressive position

Without any proof they will win in court and it could cost you more than the deposit.

The court passed a judgement of foreclosure to the bank and it's expected to go to auction in the next few months.