Abandoned Property - What Would You Do With This?

[Barry Pekin]

I'm just getting ready to start my REI business. I've lurked for years doing other things, and now I'm looking to get started.

I was reading a local paper last night (which is new for me, too!) and found a legal notice about a property where the county is looking to do a judicial sale of the property for the purpose of collecting delinquent taxes. The owner died 6 years ago and left the property to a friend. That friend, her heirs, or anyone else related cannot be found despite having a last known address. If I'm reading the notice correctly, it is ordering that the friend, her heirs, and "parties unknown" (who it appears are some people interested in potential ownership of the property) appear in court to "do what is necessary" to protect their interests.

I did a drive-by to check out the property. Someone has mowed the grass, but it is in dire need of landscaping work. The hedges are out of control compared to older pictures of the property. There's what appears to be an abandoned car in the driveway, which is somewhat overgrown by tree limbs and weeds.

My question is, what would you do if you wanted to look further into this? I'm not exactly looking to make this my first deal, but more of an educational opportunity. The court date is still about two months out.