Lean on your local investor network for support, and don't hesitate to seek legal counsel if needed for insurance disputes or liabilities.I hope this helps provide a starting point for dealing with this challenging situation.

@Whitney Bivins, it doesn't sound like a deal killer to me as long as the seller cooperates and provides concessions at closing.

Friends close/enemies closer.always great to know the competition.

Jon,What about the closings? 

I would rather work with someone who is willing to offer FMV or at least close to it with the understanding to the Seller that the discount is in the convenience. 

Whenever someone files for bankruptcy, there is an automatic stay of all legal proceedings against that person. 

Excellent turnaround time, the leases were beautiful (legally speaking), and outside of some issues with finding specific contractors, they've been great.

Is it listed in the lease to keep it closed? 

I don't believe me or my wife's income will be able to cover a full 80-90% LTV line of that amount but I want to be able to get a line as close as possible.Is there currently an institution that is recommended or any that should be avoided?

It was stated to me that a property owner gets paid in full at closing.