@Alan CoreyHi Alan.Let's say the property is worth 500 000$ at 95% occupancy based on its NOI and the cap rate.Therefore, the same property with 50% vacancy would cut the NOI by about half since you lose half of its revenus.Using the same cap rate for half of the NOI would lead you to a value of 250 000$.

@Dev HornI just posted some advice on a joint venture with the seller versus a we buy houses 70% of a or B minus cost offerThe deal was 190 ARV 30,000 in repairs free and clearIf you want to be a transaction engineer you better be able to deal with notes during joint ventures with sellersThe difference in these two offers the seller would have got 103,000 with the investor deal and 144000 with the joint ventureRule of thumb  I have in wholesaling sometimes is a ****** offer to the seller and they're all going to say no and you're wasting your timeWhen dealing with Minor rehabs in good locations, joint venture with the seller is the way to go

@Richard D.I agree, judges do tend to side with the tax suit defendant/owner in these cases and Bankruptcy courts are there to protect creditors and losing a major asset over a few thousand dollars in a property tax suit doesn't fit their charge. 

I think he getting ready to lose the place.

You’ve got to get the Seller to tell you how much it’s costing them or how much sleep they are losing because something isn’t right with their house situation.DIAGNOSE THE SELLER’S NEEDS ACCURATELYThe second phase is that of diagnosis.

Some lose money.

If you put together a wholesale deal that you can't close - who loses?

I've been following Mark Ferguson's ventures over at InvestFourMore which led me to BiggerPockets.  

I am not sure what you have to lose by giving it a try.  

Any one not paid loses all rights (providing the foreclosure was done correctly).