We have administered 1031 Exchanges in about 40 different countries at this point in time. 

But now if I could go back in time, is there something I could've done to save the deal?

It doesn't sound pleasant.

Seasoning is a pleasant way of saying "I'm going to make a minimum amount on my investment."

I'm sure they are traumatized. 2 dead cats and 9 dumpsters later, we got it demo'd and then 25 gallons of Kilz Max sprayed on every surface.Buy $110kFix $65kARV $220kTo go back in time, I would have postponed the foreclosure instead of rushing to close beforehand, then had some very ample support to get a short sale down to $60k or less.

Francesca,I am a local and know the market intimately.

Since this is an "intimate" living situation, you can legally ask about their age and screen based on that.

If you don't understand INTIMATELY what they're doing with that cash, don't hand it over.

Think in terms of "use of credit" rather than in terms of strict ratios.These adjustments to underwriting are basically compensating factors taken into consideration, at a point in time, under current economic conditions, flowing with the housing and bond market, they can open the gates and close them later on. 

I've still got the original tenants that are paying substantially under market value, but they pay on time, on the 1st, every month and are pleasant to live next to, so I'll sacrifice a couple hundred a month for that at the moment.