But I am speaking of single units it is probably different for larger apartment buildings.

Both our credit scores are in the 780+ range.I know this doesn't sound too good an investment, with the negative cash flow.

Remember, you make money by creating a "Spread".Spread = ROI - WACCSpread > 0 is a good thing and is a requirement for success.Obviously if your deal has negative ROI before you even borrow money then you're throwing your money down the toilet.

I am attempting to do a short sale on a property that has negative equity.The question is... should I negotiate with the lenders to get an idea of what, or if, they would short their position BEFORE I sign any agreement withe the current owners OR do I need to sign a P&S with the current owners and make it contingent on a successful short with the lender??

Speaking for Indy and in agreement with the other two, the midwest is incredible right now.You could get quite a bit more here in Indy for $80k-$100k than you probably could anywhere on either coast.

First, this is a great back and forth--I am amazed at how many people I speak with tell me their mortgage is "X" and their rent is "X+$100" so they have positive cash flow.

I was recently speaking to someone who owned a vacation condo in Hawaii and was quite shocked to hear that his property management company charges him 50% of his rental income.

You start talking about the notion of buying an apartment building and they start to look like your speaking french.

Yes it looks like the majority of response has been negative.

On a conscious level your body and mind responds to being fed negative statements.So what are you afraid of?