Let's take a look at the numbers on this deal:Gross Rents: 24 units at $325 per month = $7,800 per monthOperating Expenses: $3,900 per monthNOI: $3,900 per month Mortgage Payment ($700,000, 30 yr, 7%): $4,657Cash flow: $757 per month LOSS (OUCH!)

Also, if you can demonstrate that the value is less as a direct result of their actions, I would think you could recover your half of that loss as well.I would recommend doing as much research as possible because you are basically on your own.

However, you may be able to do a loss mitigation work-out plan within the bankruptcy.

You seem to be making a lot of the same mistakes that all of us make/made when starting out.This is a nice townhouse, which only breaks even, but the community is VERY nice.I don't care how "nice" a community is, a loss is a loss, and "break even" is a loss.

I invest in the Pittsburgh area (not REO's) and the best advice I could offer is to limit the geographical area to a workable distance.

I'm looking for anyone who has information about how to be able to contact these loss mitigators who assign the listings.

Two days ago, though, they had reported significant losses of earnings due to rising costs in price.

Passive income losses can be used to reduce earned income up to $3,000 per year.

--- I have been closing for ten years and heavily involved in REO, Foreclosure, and Loss Mitigation for five years....

The biggest issue the 2 of you will be challenged with is how may properties you own which are financed. 10 financed properties is the limit for full doc loans and 5 for stated income verified asset loans.Cash Out refinances under conforming guidelines are nothing special.