Is this a fraudulent scenario

[Gori Tronx]

My friend purchased a single family property about 2 years ago with a FHA mortgage on it.

After about 6 months he had an emergency and had to leave the country for good. He had asked me if I could take care of the property and I said yes. We then transfer the deed to my name as the trustee of a trust we set up.

I had rented the property but things got a little of hands after the tenants left and now the property is in foreclosure. I was advised by a professional that the best option is this situation would be to prevent foreclosure and list the property for short sale. I contacted my friend who was ok with situation and gave me the ok to start the process with the realtor.

Now I’m realizing that I could capitalize in this opportunity and buy the property myself from the bank. My question is: In that scenario, will this transaction be considered fraudulent since my name is on the deed?