Sadly this happens a lot. banks sit on properties due to their own bureaucracy a legal red tape.

I was going to caution you about the most probable trap on this short sale, but since you're not interested in that commentary, I'll just sit back and see how it works out.

It's tempting to jump in and try to do the same thing rather than sit back and watch him do it, but I don't want to be that close to my tenants.

guess I could grumble about having to sit in some class, or I could look forward to learning and making a few contacts. 

I'd rather fine unique locations that are under the radar and where properties just sit for months with no attention.

:While you may never correctly spell the word "license" you may become incredibly effective and a smart operator.Rick:Do you mean as in holding a real estate "licence" (noun) or  sitting the exam to become "licensed" (verb). ;-)

If may be worth your while to just go and sit and see what happens one time before you actually bid.

The upside is that you don't have to deal with other bidders carrying gats (you know who I'm talking about), the downside is you can be bidding against guys across the country sitting in their offices (can you guess who I'm talking about?).

I'm confident it won't sit there for another 20 years without any action taken. 

This current 1 level ranch sits on a basement that was once the additional apartment. the investor abandoned the project due to lack of cash flow.