Did some more research and I learned that:Carryover losses extend indefinitely until final sale (and can be transferred from property to property if a 1031 is used).

The bank will prohibit assignments.The bank will require that you demonstrate that you, personally, have the ability to purchase before they will even look at your offer.The bank will require that the property not be re-sold for some period of time, probably at least 90 days.The bank, and I say this with all due respect, almost certainly has a better idea of the market value of the property than you do.

In CA, since most people now are getting a deficiency judgement waived, the redemption period isn't allowed.

A flip is when you purchase a property, and then turn around and resell it within a short period of time.

They are willing to waive the min balance for a year and help extend it 6 months after that so you will have time to meet the min balance requirement so you can void out the fee.

These are annual amounts collected over a period of years to cover the replacement of major capital items such as heating and air-conditioning plants and units, electrical systems, roof's, etc.

It didn't get done and there were some excuses and then the grace period for paying passed and a filed the notice to quit.

If you utilize a real estate agent they will suggest using TREC contract form 20-12 "One to Four Family Residential Contract (Resale)" which contains an option period.

But the seller is very concerned about liability issues during my due diligence period (i.e., if someone gets injured on the uninsured property).

Let's geek out a little and look at new development from the point of view of an economist.First of all, real estate is cyclical and typically, there is a period of expansion in inventory (period of new construction) after the recovery of a crash before you enter the "oversupply" phase and back into another recession.