The project is rated high in green building certifications and I am also focused on the relational aspects of an "intentional neighborhood".There are many issues to consider for smaller houses.

Ultimately, it comes down to math and your objectives with the deal.

Generally speaking, the price of an REO is not indicative of it's actual value, and isn't even related to its value until it's sold.

My question is should the assessed value and asking price be a little closer together, or are they numbers that are just set by different interests and have no real relation to one another?

David - Another way that you address the liquidity objection is by pointing out the low loan to value.

A lot of the issues at underwriting are "complex," because the underwriters themselves are not very versed with how to review financial statements either they use "self employment income evaluation," methods designed from Fannie Mae which help in determining risk analysis but to objectively know how to read the statements like a finance professional thats a different story as most loan officers are not finance professionals.

In all my years living here i don't ever recall seeing bandit signs, flyers, business cards, listings in the personals or anything wholesale related.

This article can easily relate to our investments as well. http://www.aaronline.com/azr/2011/october/using-the-ipad-for-real-estate-business-part-1.aspxLast paragraph is really the only one I believe we would care about.

Travis, I've done a lot of research and talking with mortgage companies regarding mortgaging small amounts like what you have done here and I'd say you did pretty good - probably about the best that can be done with traditional financing for such a small amount (relative to the amount financed for average home mortgages).

My first question would be why BK and not closer to homesecond question would be HOA related, cost, assessments, condition of property, not just your specific unit, but the grounds as well, parking lot repavement could mean a huge assessment shortly.