Sorry, I know that doesn't help you much as far as NJ goes... lol

Your past experience and insight on what works or doesn't work is greatly appreciated!

I don’t know what kind of land I’m looking at.By the way, this doesn’t mean my perspective is correct.

We'll see if they change their minds on the asking price.Only owning the building 2 years means he probably doesn't have a lot of equity to sell through an agent at a reasonable asking price.

She has no current income.If there is any equity in the property, should would have applied for a reverse mortgage.Bankruptcy doesn't stop a foreclosure and hits the credit for several years.Should would be better off selling, taking what little equity she might have, and avoid taking a hit to her credit with a foreclosure.

@Paul DeSilva The banker you are working with doesn't know anything and/or is a commercial banker.

Cozy syndicates to Realtor.com and TenantCloud doesn’t.

I’ve thought of billing back the tenant but I wouldn’t want my rental to be one of the few that doesn’t include it and then lose prospective tenants.

In some states it doesn't take that long, but why take on the added burden of that when the seller should have already started the process.  

If it doesn't and the market turns, then you win even more because you were able to cash out, cash flow, and now are in a great position to buy.