In that situation you may have to be a little creative and possibly consider a short sale or maybe subject to and negotiating with the bank as well as the seller.

Long/short, a homeowner needs some upfront cash and is willing to sell their property at 480,000 when it is easily worth north of 1,000,000. 

I have a property in Tuscaloosa, AL under contract that currently has a short term billboard lease left on it that i would assume upon closing of the deal. 

I have a property in Tuscaloosa, AL under contract that currently has a short term billboard lease left on it that i would assume upon closing of the deal.

Base your offer on what you see, and adjust or cancel if new information is discovered during the inspection.

The first guy left without issue after the tenants realized they were going to lose their apartment; the second is tbd.When I get unauthorized tenants, I write a very short and simple letter stating that everyone has to be on the lease and pass a background check.

So they go and list it on MLS for 260 it never sells of course because its no deal.it swings back to me and sure enough.. once we dug into it a little more these guys did not realize she owed 195kk against it and it was in foreclosure.. about to be lost.. so they had it tied up  had fouled up her title by recording that document and they were going to lose out. so long story short I told them I would give them 6k and the seller 5k. and stroke a  check on the spot for 211k.. and it was done.they were lucky to get that. but they would have had no compunction ripping 100 to 150k of equity from this older lady in distress.I leveled the house built a new construction that sold for just under 750k and we made right at 200k net profit on the deal.. but I would have passed if I thought these guys were ripping this ladies equity I don't care how much I would have made I can make that on another deal and not take advantage..now granted when folks CLOSE and then resell well all bets are off and its harder to go back and see what someone paid for things.. 

Deal flow is king in this market and you either need to have it or to invest with someone who does.Done correctly, passive investing does not simplify life during your learning curve but it does afterwards.If you can predict economic cycles, forget about real estate and short (or long) the stock market...much easier than messing with REI.Stick with good sponsors, cash flow, add value, prudent debt, and reserves...good recipe at any point in the cycle.And if you are investing passively, consider assets classes other than just MF.

My fiancé and I bought another house shortly after the one I purchased for a primary residence in a neighborhood that has a lot of room for appreciation.

Short of trying to get a stay, what would some of you do if you were us?