Nor does the level of demand for MBS or credit default swaps.Additionally, mortgage debt owed by U.S. household was > $12 Billion before the housing crisis in 07/08.

I have to agree with @Alex Craig that the seller knew the troubles with this home before you closed on it.  

Hello all, I have a quick question, I am new to real estate investing and recently came upon a property where the seller is asking for 23k.

but a lot goes into analyzing a deal, including: $/SF, Average Days on Market in the area, how easy or difficult it is to get permits in the area, how long the flip would take, comps/ARV, Rehab, Rental Rates, how the area is trending, holding/carrying/hard money costs, closing/commission costs etc.If you can analyze the deal, you can then negotiate the deal with sellers, buyers, and lenders.

In the mid 1980s he started in the manufactured housing industry as a seller of homes.

So given that statement you have two options; 1) Offer the price you feel is justified and see if the seller accepts, 2) Determine this deal isn't for you and work on finding the next one.

I'm just starting out as well but in this situation, I would probably see if anyone is offering seller financing on a multifamily property in which they would be nice enough to allow you to occupy one of the units.

What do you tell the seller?

The seller disclosed the long term leases on two of the units, but only provided the expired, 2 year old lease and the rental increase notices for the other two  and did not produce the additional long term leases that tenants shared with me.I'm in a bind here, I can't break the leases and can't stay in compliance with the loan terms.I've already reached out to my agent, who is fortunately a commercial brokerage with an attorney on staff, but have not heard back.

Assignor would be whoever is transferring the property (doing paperwork and getting home from original seller, seller of the wholesale deal), assignee would be whoever is taking to property (going to be closing on it to rehab, rent out, live in, etc..., buyer of the wholesale deal).