Was it just a precautionary measure, in case things didn't work the mutual exit was built in? 

It was a component of the government's measures in 2008 to address the subprime mortgage crisis.In 2009 the banks raised the credit rating and reduced credit lines on cards and made it difficult to borrow money for a mortgage.

I still feel the houses in my area are over priced for what they are and they never measure out on the calculator, but very worth watching the market not to far north from me. 

APPROVED, I actually had to verify numerous times that it was not a joke and that we had actually gotten approved for the short, a lot of other measures were taken but I can't give away all my secrets.

They currently are pushing a lot of new rent controls into Santa Monica, LA and Long Beach.https://audioboom.com/posts/5228575-ronn-owens-rent-control-measures

Hopefully you will find the REO's you are looking for and be able to wholesale bypassing using alternative measures in REI.God speed!!!

NPV is defintely the best measurement of value for any investment.

Remember that your IRR (internal rate of return) on that added equity will likely drop the longer you hold the property, as IRR measures an annualized return, and it will be difficult to add the same amount of equity year over year.

I'm ordering a 365 nm blacklight to find all the pee on the walls, though I feel we may have to just cut the bottom 3 feet or so out for good measure. 

I wanted to ask about some measures you use to cut down expenses on a property.