Then the lawyers do all the title work and schedule closing (usually a month plus after inspections).

Once the property is fixed up and sold, You and The Private Lender will Split Profits 50/50, or whatever the agreed upon split would be.Usual Private Lenders are friends and family and High Net Worth Professionals (doctors, lawyers, other real estate investors)

@Denise Pauzano These are questions best left to a lawyer I would say.

After extensive research, I set up an LLC in NY with the help of a great lawyer that I found on the Internet.So I have an LLC and a US bank account which also took some time to set up.

I've managed tenants before in condo situations so I feel comfortable interacting with tenants and empowering people to partner to find solutions.

Probably best to invest in a consultation with a lawyer or zoning officer. 

I'm guessing if you want to avoid an eviction you'll offer the cash before you start paying a lawyer. 

My lawyer said these usually end in her having to pay 3-4 months rent which is worth it.

I plan on using the settlement co/lawyer that my private lender recommends.

Another method is to use the State Bar's Lawyer Referral Service.