As @Ali Boone said, make sure you include a vacancy loss that is appropriate for your market.

They want to recover as much as possible and reduce their loss as much as possible.

The issue is that a tenant can provide a replacement who is qualified to limit any financial loss by the owner.

or maybe bank wouldn't mind taking a loss since it is a liability on their books and the location isn't exactly too desirable?

Sorry for your loss Bill Gulley.

Please don't waste two months coming up with a name, designing cards, and picking the paper weight for your letterhead when you could be using that time more productively!

At a 10 cap for resale would be 600,000 purchase price from your end buyer. 600,000 - 320,000 = 280,000 gross profit / 12 months = 23,333 a month value gain for the time invested.What you can or cannot do will depend on local, national, or regional bank and if they originated the loan or bought out a failed bank or from a FDIC loss share agreement.

I have clauses in my lease saying I'm not responsible for injury or loss to person or tenant's property, and that tenant waives all claims.

It seems to me that the real truth is that if enough of these properties were sold at sizeable losses all at once it would overwhelm the bank's reserves for loss allowance, and would require that many banks either recapitalize or fold.You can call it conspiracy - or practical reality - but the US regulators are allowing the banks to hold onto these properties in a limbo state in order for their losses to be slowly absorbed over time against other income.

I've thought about doing weight limits and 'meet and greets' before I allow pets to move in.