What could this place rent for? 5K/mo? How much more? I would have to imagine the carrying costs on this place are somewhere north of 8K/mo. Who can afford to lose that much every month? I know I can’t, and I could probably stretch just enough to afford this place at the asking price (but I wont). Unless the current owners put 50% down I can’t see this place penciling out as a rental. That’s why I think it’s ultimately going back to the bank.
Oh, and it was 60K less, not 600K. Just enough to build a really nice pool.
