It is totally possible that someone finally gave a decent offer on it that the Bank accepted ... but at $200K for a Homepath property the numbers don't add up unless it goes down to $180K.I hear that Banks still consider offers even when properties get under contract, is that true?

Try to live for free (Possibly make money while you live there) Remember, play defense with your money or you might always find yourself in the same position of debt.If you can convince someone with private money to partner on a deal, great for you.

i try to get close to BLVD east as much as possible.

Thank you so much @Michael Lee and again @Scott Hollister I did the first step and just started talkin to sellers on craigslist I possibly have A DEAL !

I think it's very possible to find such rates and no point/no fee loans if you look hard enough.

Hi @Eunice Davordzi,Generally not, but it is possible.

Do not try to do everything yourself.Always remember to do a math analysis on your prospective properties and try to look at them before you make an offer or at least have a clause in the sales contract that allows you some time ( about 15 days to do a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.  

:--HVAC System Duct: OK _____________________________________Yesgenerator by-pass - several rooms would not energize, possibly due to faulty GFI's, the AC would not turn on avisual inspection of all components was conducted and unit appears in good condition.

I will be developing a relationship where I am providing tremendous value to the owner, and if they do sell the house thats great too because it will generate referral business.I have already set up the MLS to send me updates that are possible candidates for flips, because I am personally looking to flip my first property.

Secondly, even if the bank will allow a short sale, they still want the highest sale price possible and thus will demand full exposure to the market, so it will normally get listed on the MLS with an agent.So - let's say you find a short sale that's worth $175k as-is.