And if there are extra spots available, they will be rented on a first come first serve basis for $50 a month. 

@Khaled El Dorry my first reaction when I saw your post was the type of mentorship program I joined last year but I'm not sure if that would serve you best.

I serve as the RA for some of my clients.

I told him he owes a late fee and if I don't see the money by Monday the 9th I will serve an eviction notice.

Subconsciously it's served them well in life.

Obviously, if you walk into a local bank they will tend to serve you "locally." 

@Robert WithersI think you would be better served speaking with an attorney than a CPA.

If you are prepared to get a new loan anyway, you'd be far better served purchasing subject-to provided you can live with these existing terms.If there is truly significant equity in the deal, a short-sale is likely a non-starter.

You'll likely have a 1% of purchase price EMD (Earnest money deposit) which serves as a good faith deposit.

Honestly, it sounds like self-serving BS.I think there may be one between abnormally high and low commissions and number of showings.