Be warned, short sales are a total PITA and often can take 6+ months to close (if they even close at all).

I've sent a demand letter on a note in TX and only a portion of the total has been paid.

((Total Rent at 100% occupancy x 12 months) - (actual gross rent))/(Total Rent at 100% occupancy x 12 months) = vacancy rate.But the big question is how much do I offer?

This total # is subtracted from your rent.

The numbers came back and she went from an adjustable mortgage of $2,835 P.I. only and the taxes are $4,491.62 per year which breaks down to $374.30 per month total $3,209.30 TO A $1901.40 payment PITI @ 2% fixed and BACK TAXES OF $57,000.00 being paid back over 30 years.

The last Whitepaper I read suggested we had not even achieved 50% of the total.

Here are the stats:I have total into the house $55kCurrent value is around $70-75kI owe about $20kMy PITI is $425/moCurrent rent paid $895/moI would obviously be making money off the sell but I am also giving up a stream of revenue if I can't find something else to buy should the option be exercised.

I think Jon and I are saying the same thing in that you probably don't know enough about the total costs of this deal without a preliminary title report and the help of title company.

The numbers can totally be manipulated depending on the neighborhoods called for the survey, etc.

That means your comps need to be similar to the subject or if a comp is used that is not similar, the adjustment can not exceed the adjustment per centages (10%), when you have two that are not similar your total adjustments will usually be exceeded.That basically means that burm and underground homes are rarely financed in the secondary market.....I know, I did two of them and it was like pulling hen's teeth, as I recall the LTV was 70 or 75% too.So this will limit yoiur market to cash buyers or those obtaining portfolio bank financing usually at a low LTV, forget about selling to the average family with 10% down.To get rid of it, you may need to seller finance it long term.