I’m sure there is a ton of holes in my situation that you all will point out.

hey @Shaun Morgan , I don't have too much experience in this field so DEFINITELY take my opinion with a pound of salt, but from my education in entrepreneurship and from what research on the topic I have done, when it comes to private investors it is less about what info you bring to the table on the first visit and more so how you approach the situation.

I am not trying to sway your decision, only you know what's best for your situation, just that if you are driven to use all of the equity, that feeling may not go away once you move it.

I would be going into the situation hoping that it will not appraise because I already "know " or assume I over bid.My realtor claims that if it does appraises to the high offer price, at least I will be reassured that it is worth that price.I'm just not sure if this is a smart way to go about this, but with bidding wars and low inventory I need to figure out what to do gain a desirable home.

Thanks Derek for the advice that's really helpful, and yes as soon as she told me I shared my condolences and did ask a little bit about the situation but I didn't want to dig down too much to the point where it may be too personal for her to talk about to a stranger.I definitely like the part of continuously following up with her and building a relationship, that makes sense and once she is ready to sell then I think I will have a leg up on others.So my next step is to find out the ARV of the property through comps and like you said try to figure out how much repair cost it needs then make an offer.

 Mark, thank you for your offer, yes, I'm going to need your help, as soon as I can find professional advice in regards to the financing process; I think my situation is a little more complicated, I'm still evaluating the situation myself, since my visits to local banks were not helpful.

BTW, I am doing the listing and finding new tenant my self, what is the best site I post ad in my situation?

However, I would do some research on what type of notice the regulations require in that situation. 

Is it likely....probably not.I negotiated many times with hoa’s in short sales, but they were looking bigger losses if the bank foreclosed....depends on the situation.  

My hope is to take what I've learned from BP to build personal wealth through creating win-win situations, and helping others.I look forward to networking with, learning from, and hopefully working with everyone!