I've bought shorts vacant, tenant occupied and owner occupied.It can be hard in my area too...I wonder if the townhouse has monthly fees that could cut into the cash flow, and to what extent those fees cover maintenance of the exterior...On the plus side, since it's an end unit, maybe it would be easier to rent?

From that description, it's also not impossible that the gentlemen you describe was not simply interested in deterring you from attending future auctions.Think of who has more of an interest in the actions taken, a "bank representative" who has completely wasted his time at the auction, or your competition trying to eliminate you.Also, I'm curious as to why you say it was clearly worth more than $500K when no one bid on it.

Jamie, She had told me that her work had cut down on her hours.

That simply proves the lenders aren't terribly concerned about looking for properties changing hands.

We've continued to cut load times over the past weeks . . .

Does the current occupant need to come up with the funds to pay off all of the existing debt or do they simply need to come up with $60k to redeem?

I cut to the chase and tell them that I don't want to set them or myself up for failure.

CUT THEIR STINKING PROGRAMS!

If an issue comes up five years later and you were not insured you could have a bill to pay having been in the chain of title.I suggest you simply assign your contract if you can and stay off title but if you close, get a search done.

On a one-off basis, a rental property qualifies at about $100k, will see about $5k in federal tax savings, and the fee will be $1500.Bryan Hancock, you obviously haven't dealt with a reputable firm, or 300% ROIs simply don't whet your appetite...either way, your pencils need sharpening.