RAO, HUD's, LOA's oh my!!! :D QUESTIONS! :)

[Nichole Gabriel]

Hi all, I just came back from driving for dollars today! SOOO much fun, we could have done it all day, but the sun went down and we HAD to come home! LOL! I had no idea there were SO many options out there when it comes to vacant properties, so I did come home with a few questions!:) any and ALL advice would be so appreciated! and learning all this should be fun, so here goes:

1. I found quite a few homes that had that banks "we have found this property to be vacant" sticker placed by the field service company the bank hires. I spoke to one neighbor who said that house was vacant for a year, and the bank came about a month ago to put the sticker in place. So, is it possible to do any type of "wholesale" deal with the bank? Would love to hear your thoughts on that!

2. Saw some vacant HUD homes being sold by agents, are these wholesale-able? AND vacant homes being sold by agents, are they off limits? what is the "etiquette" there?

3. I am going to assume that if I see a home that is already being rehabbed, that it is already in an investors hands and there is nothing more to do there, right?

4. I found one house that had a court document on it saying something about being in court on the 31st of the month.. couldn't understand a LICK of it! It was a pretty thick document, but I could only see the first page since it was in a stapled sleeve. Any idea what that's about?

5. I found some homes for rent by holding companies? Do we treat these the same as landlords? or not at all? Also, a for sale by owner home which the owner was also willing to finance, and/or rent? Do we treat them like a landlord,or approach them like a tired seller, or assume they are looking to hold?

6. I found a door tag in one of the houses, does this mean I'm too late? :)

7. Can we wholesale residential properties that have been zoned commercial to a commercial buyer, or is it waaaay overly complicated?

8. and finally, my sister called me today(she doesn't know I was thinking this!!!) to tell me that she found a home she loved, the owners father was there and said the son has had the house on the market for a year, but has moved closer to his family. She loves it, but I know she has bad credit. Is this a situation where a LOA (lease option assignment) would work? -- I am going to ask for an explanation of this on the forum, because I tried to understand how it works and couldn't really get it!:D