If the liens exceed the purchase price and a mortgage is involved, your hope is to do a shortsale.If there are no other loans currently on a property, the old 2nd mortgage becomes the 1st mortgage.When explaining this to the seller, agree on your purchase price and let him know that the mortgage being paid off will come out of his proceeds.

It’s harder to change the amount after they have already agreed to a number.  

I agree with Alex in that if you have 50k total to invest, the suburbs of the aforementioned areas may be best.

I agree with the others here who say MF is better than SF.

@Nadine Delille strongly agree with @Eric Jacobs.

She might move out on her own after you talk to her or she might agree to pay for the pool or increase the rent.  

@Taylor Larkin I agree with the other responses, try to work with her since she was up front with you, but make sure you are not putting yourself out either because you could take recourse according to the lease.I would try to work with her and definitely get any agreement in writing.

Yeah, I’m having a hard time believing you want to cancel because you had some “potential extra risk”, you did agree to let them do some work, as opposed to you think the house is worth more now.  

Hi @Christopher Gallardo, I agree since the rising housing market is pushing people more inland.

I agree with Will here.