I wouldn't want to risk starting where I live there is absolutely NO demand right now.

The Fed announced a plan to bail peole out if they are at risk of foreclosure:http://news.yahoo.com/s/nm/20090127/ts_nm/us_usa_fed_foreclosureOf course, if you were responsible and took out a loan that you could afford you are out of luck.

Not really worth trying to time a bottom for and risk losing out on a great property.

Billy gets a lower payment, but has the risk of having to come up with a large payoff in five years.

The article was the result of a discussion at the Bon Fire at the Field Guide and the editor made a mistake when she released it for publication.Each investor much evaluate their potential risks as they see fit.

The risk isn't losing the property, the risk is losing the property and becoming embroiled in two lawsuits.

Unless the deal makes sense at your current price and the $6K up premium is not worth losing future profits over, my advice would be to let this deal fall through and make another offer based on the new MLS listing price, At this point it comes down to what the property is worth to you and if you are willing to risk the deal over $6K based on your projections.

I'm looking for lower risk cashflow properties upstate NY by colleges near the Albany area (Troy / Schenectady).

Great risk = Great Reward, but it can also bankrupt you if caution is not used.If you have a "day job" this strategy is very difficult.

Wow, after spending so many sentences telling us how much you hate wasting time, I have to imagine you wasted at least a half hour on that useless post...I have to agree with MikeOH on this one...You sound like you want a way to "get rich quick" with no risk, no real effort, no pain, and no hard work, etc.