You say you have a "partner", so your partnership arrangement should cover who profits at what percentage, as well who takes losses and who supplies capital (funding) and labor; everything should be given some value.If you need funding from hard money or private lenders, thenn you will need to use a financing contingency.

(Some more details: I am current on the mortgage but only because the tenant offsets some of my loss.

Got through that part, now someone in the loss mitigation dept says a part of the short sale package is a listing agreement and something allowing them to talk with the realtor.

No net loss in that case.

Then ask them how do they calculate the opening bid at the auction.Banks are not going to let the properties go for less than they feel it is worth minus acceptable losses (within reason=subject being less than the foreclosure costs, carrying costs, closing costs, REA costs, costs, costs, costs, etc.)

Unfortunately with leveraged investments, you can have to pay some of your losses to exit.Jon

I sometimes feel like there are more real estate "get rich programs" than there are fad "weight loss" diets.

., listed on the deed as owning an undivided interest) he participates in the monthly NET profit or loss.

These loans are generally bigger loan amounts meaning bigger loss mit fees.

Population losses are projected to continue through the end of the decade (-1.3% 2005-2009), employment growth 6 month rolling average: -3.3%, and unemployment 6 month rolling average: 8.8%.