I remember one guy approached me on the site and he was looking for a particular type of sub. 

If you put in an additional $40k, the home will be worth $320k so that is what you decide to do (remember you could borrow the additional $40k in fix up too if you give some interest to your lender, family member, etc.).

Get the president, VP or property management company to help you reduce the balance and extend a payment plan.Just remember if your mother signs a payment plan the board can hold her to it.

Just remember that the real estate business runs in cycles and learn how to deal with that.Good luck to you!

Tracey remember you only really have an offer submitted, we explained above that the bank could take up to 10 days ( I think ) to accept or reject your offer.

So remember, for legal and tax planning, a good CPA will recommend that clients hold their properties in an LLC or Limited Partnership and run their businesses as S Corporations to avoid self-employment taxes.

Did your purchase contract remember to move the tenant's deposit to you at closing? 

If you decide to go on deal with them, remember you have to do your own due diligence on a properties. 

In the beginning at least, remember to do a math analysis and try to look at all prospective properties before you do the offer or at least ha a a contingency clause that gives you some upfront time (about 10 days) that gives you a chance to possibly of backing out of the deal without a penalty that does not hurt you too much.  

However remember you need to make sure your numbers will all work and that you buy a property below market value!