On one occasion, the title company had to make good on it (although it was a nightmare process to get them to complete it).You should get a title policy, just know that it is not an end all be all 100% free and clear insurance policy.As to the balance of your questions, I recommned you get somebody to help you out with this transaction, either an attorney or buyers agent.

How do you balance appropriating funds for acquisitions if you're purchasing short sales?

The borrower wasn't represented and simply went to closing where he learned he was paying off the balance, what a surprise!

We still owe him around 7k(includes remaining balance of the bid and the extra work that we agreed upon).

What's the balance on that HELOC?

If you are assuming this loan get the interest rate permanently reduced or the loan balance or both before taking it on.

I think it should be, "eliminate bureaucracy, balance budget, reduce taxes."

Wonder how to leverage the 401K balance to qualify for a loan to buy a $100K rental property.

You put down your down payment and the bank takes care of the balance.

I must admit I'm a bit disappointed that I will need to leave a message stating my name, number, & bank balance to have an agent call me back.