Ray is right, normally there is a cable running along the bottom to prevent this.

Since KnT hasnt been used since the late 30’s early 40’s you can be assured the cotton and rubber coverings are as brittle and dry as a cracker and more like kindling than wiring. 

well PMI is why.So bottom line depends on the market and the opening bids.. and the process.. its still viable in a few markets I fund folks that buy court house steps stuff monthly.. 

If it is a Fannie loan, here is Fannie Mae's own guidance to the loan servicers, basically the official Fannie Mae interpretation of Fannie Mae paperwork (look on bottom corner of that deed of trust, confirm that the words "FNMA" or "Fannie Mae" appear): https://www.biggerpockets.com/forums/49/topics/610831-oh-yeah-the-due-on-sale-clause-is-now-llc-friendly-sometimesAs always a judge can come in and say whatever she wants.

Yes the 20k comes right out of his bottom line, but any good realtor would base it on the true sale price.

When I was in the military and received orders clear across the country, I decided to rent out my primary residence (a condo) instead if selling it at a market bottom (1997) like all my other squadron members did.

The bottom line is there is no legal issue, IMO.

In other words, there still may be time to get in on condos at near-bottom prices.

Also the bottom unit needs to be rented right away.

I had a couple of concerns about the location- 1) there is a huge basement at the bottom with massive concrete pillars.