She however owes a considerable amount of back taxes that she has never paid related to the property.

Extending beyond one day puts “B” at risk of owning a house he or she can’t sell and owing you on a loan they might not be able to perform on.

These blogs is written for the state of California if you don’t at least have a basic understanding of the real estate principals and real estate financing applicable to your state, I suggest you go to your public library, book store, amazon.com, whatever and get a copy of the real estate principals, financing and laws that apply to your state.

At first we were trying to be more lenient and work with the tenant, but all of a sudden, the tenant owed us 3 months worth of rent!

If they take it, then you just made another $13,200 from the difference on the initial offer and you MPP.Obviously, if the property you're talking about has an ARV of $200,000 and a mortgage owed of $170,000, then this is a terrible deal.

. $68K) and would forgive the balance on the principal loan amount ($130K).

If one can get through all of the broker nonsense and get direct to the principal buyers, there is low competition, high discounts, and consistent product coming through the doors.

I have a house worth $450K but I owe the bank $337K. 

If you are a principal, as an end buyer would be, then you are only going to pay what a property is worth to you.Absent some other contractual arrangement, the seller pays the real estate commission (unless a short sale, etc.).I'd either set an acceptable price point and make you offer or find another deal.

I agree with you, my lack of understanding of all this definitely sets me back, but I'm pretty much brand new to this so I'm still learning the ins and outs.There isn't a mortgage on the property, she only owes the taxes.