Such amounts may be out of bounds of creditors.Thinking you can buy a note and obtain a note is not the right thinking, those are tow different interests conveyed, an old saying, once a lender always a lender, meaning that if you buy a note you have no more rights in or to the property or collateral than the original lender.Buying a seller financed note, an equity funded note changes the flavor, equity notes are installment contracts that revert back to a seller, buying one changes the matter to a cash basis to the extent of the price paid, amounts above that may be viewed as equity amounts, not that a borrower evades that part of the obligation but in some cases it may be treated differently, like bankruptcy.Best thinking is to use the collateral to cover the outstanding balance owing, of all loans, plus allowable costs under state law in foreclosure and the excess reverts back as excess equity to the borrower, you get your money back, that's what you're entitled to. :)My Cards aren't doing well.....:)

Therefore, I can refinance INTO an FHA 203k product, and the refinance will NOT count as a cash-out refinance, due to there being an outstanding mortgage on the property.

Completely rehab to a slightly above average standard cosmetically and an outstanding standard in terms of systems.  

@Lynn Currie Outstanding.

Or the other developer that had an outstanding invoice of 50k that he decided he didn't want to pay right now because his property hasn't produced any income, but how happy he would be to loan me a $1000 at 15% if that would help.

The 2013 school taxes were outstanding, and scheduled for tax sale on 9/22.

LOL. there are a few hotels off the highways. 

I have been looking for sometime now with no success.If needed I can share a few contacts for trades that I have found to be outstanding such as plumber, screen repair and flooring.Is it unusual to want to pay a handyman per hour?

What frustrates me re threads on NPNs in 2015 was too much guru talk:  buy an NPN at 20% of outstanding balance, mail off to the (not paying) owner an off the cuff work out (30% off the payment, 30% off the principal) poof they sign and mail back all is well.  

Every house I have bid on is cash on demand 100% at the end of bidding - certified funds or greenbacks. ( I have never seen anyone pay in greenbacks however it is accepted where I am from)2) Sometimes I get great deals - just like every where else in REI world competition is fierce.3) I can only speak to CO trustee sales - banks will look to recover the outstanding debt owed by whomever defaulted.In many cases the bank will accept what they call a 'deficiency', which is essentially less than what they are owed. example: Outstanding debt: $150000, Deficiency: $50000 Opening bid: $100000