It'll be like the people out there that got mortgages that were way to big for their finances and now they're just walking away from them.

I've turned down plently of "deals" that had no equity simply because they didn't fit my formula and exit strategy.

For 3500 this guy will just walk if he can't purchase, and from what it sounds like, he's probably eating into his savings also if he is paying the 900 and his mortgage.The problem is that the two parties have 3 houses (one too many).

The argument he was making to sell the course was that they're already in jeapordy of losing the property due to taxes & not walking away with anything.

When you talk to them, try framing the situation as a win win for you and the bank for them to put you into better financing terms versus the cost of the bank having to hold the properties if you walk away.

The ones I couldn't sell I would stop making payments on and just walk away.

If keeping his business separate fits your plans then there is nothing wrong with doing it that way.

I know FAR more average legal residents that have walked away from their houses than those that are illegal.

In these complexes basically everyone is flipped and many are walking.

Most would max it and walk.