That’s a fair question.I was actually pre-approved for another property out there, and the same team was happy to continue working with me.

I have no experience in this asset class with regards to actual investing. 

There's a mixed feeling of stress and joy that I actually find rather pleasant, but it would be alleviated if someone could offer advice on how to approach lenders on this forum.Thanks for listening,Daniel Rogers

If you find that your MAO is actually above the asking price, ask the asking price (unless of course you have a reason to believe that the seller would take less).

Otherwise you may fall into the trap of just learning and learning and learning and never actually doing.

I want to understand the legal bound of what a quit claim deed does.

The broker, "no I didn't see any termites and I didn't actually remove the siding."

If it is the actual foreclosure auction, not a REO auction, the bank can only collect up the final judgment amount.  

We actually met with a money lender earlier this year to discuss a commercial deal we were looking at.

Actually, I ran the report again with 20% down and got a negative cash flow and CoC because I have to service the debt.