That business is comprised of policies, procedures, structure and laws, many many laws.

Not every city implement a procedure as yet.

If it sits on it's own land, but not on a permanent foundation, then find the value of the land through the normal real estate comps procedures, and find the value of the home's "blue book value" and add together.

I think it was like a dental practice or something?

We are looking at a duplex on Pasadena, CA. The front unit is vacant and the back unit has a tenant who has been there for 9+ years (month-to-month rent agreement). The back unit is in bad shape (no immediate danger, ...

I have the owners contact information, so I was wondering if there is such a procedure for mailing something out, and letting them know that you are interested in taking over the loan, providing they can provide some financial information about the property.

If homeowner, then they have rules like premiums not being repaid, long redemption periods, low rates, difficult foreclosure procedures.

Success is an individual thing measured by individual metrics.The wealth-building procedure you describe is the one outlined in The Automatic Millionaire by David Bach.

Can someone do us a favor and summarize how this procedure would look from start to finish, and using the #s provided if this statetgy is even worth it?

Not sure if probate procedures are the same for every state, but I could use some advice for the state of Virginia from any probate lawyers out there - or anyone w experience in probate in VA.Background:I found an abandoned property I want to buy in a small town in SW Virginia, but the situation seems to be a tangled mess.