Home was bought in 2009 for a loan amount of $170k and they still owed $156k.

If you did not exclude anyone from the contract, and you negotiate a deal (with or without the agent) you will owe a commission.

As a CPA, I make complex things simple and simple things complex.I have a formula of Square footage x avg SF rents (Avg sf rents is from phone calling Sunday ads)(Since I only buy close to downtown (e.g. yuppies) I add $100 on top of this)Less PITI -Principal, interest on 10-20% down on 15yr mortgage -Taxes, insuranceLess depreciation=tax income+ depr (add back) - principal payment (deduct)=cash flowMy "business model" is net $200-300 per house (yours can be different)Agree w prior posting that debt service is arbitrary re 15 yr vs 20 vs 30 yr; % down; etc.I have a very successful friend who never pays 60x rent.

Hard to make it worth my time and money even if they are the ones that owe.

so i have a guy who really wants to get rid of his house because it is going underwater. he said he as 85k on his mortgage but comps run at 65khes been hanging onto it but owes more on mortage than house is worthhes sole owner2 bed1.5 bath900 sq ftprivate septicpublic waterno liensLot: 4,792 sqft Single Family Built in 1945 Heating: Forced air Last sold: Sep 2005 for $105,000should i try to wholesale this through a shortsale?

so i have a guy who really wants to get rid of his house because it is going underwater. he said he as 85k on his mortgage but comps run at 65khes been hanging onto it but owes more on mortage than house is worthhes sole owner2 bed1.5 bath900 sq ftprivate septicpublic waterno liensLot: 4,792 sqftSingle FamilyBuilt in 1945Heating: Forced airLast sold: Sep 2005 for $105,000i dont know what to do from here but i will figure it out. is short saling risky?

so i have a guy who really wants to get rid of his house because it is going underwater. he said he as 85k on his mortgage but comps run at 65khes been hanging onto it but owes more on mortage than house is worthhes sole owner2 bed1.5 bath900 sq ftprivate septicpublic waterno liensLot: 4,792 sqftSingle FamilyBuilt in 1945Heating: Forced airLast sold: Sep 2005 for $105,000i dont know what to do from here but i will figure it out. is doing a subject to risky?

so i have a guy who really wants to get rid of his house because it is going underwater. he said he as 85k on his mortgage but comps run at 65khes been hanging onto it but owes more on mortage than house is worthhes sole owner2 bed1.5 bath900 sq ftprivate septicpublic waterno liensLot: 4,792 sqftSingle FamilyBuilt in 1945Heating: Forced airLast sold: Sep 2005 for $105,000i dont know what to do from here but i will figure it out. is doing a subject to risky?

For the relative future, I do not plan to leverage any properties I owe in order to grow; I'd rather pay down the mortgage (if any) and have a "sure thing" before building up.

If you made it this far, then I already owe you thanks for taking the time to read my post.