Which isn't a lot considering it's a bona fide business where you can build an empire. :-) 

Think about the following in terms of a so-called “Foreclosure Bail-Out”:Whether in default or not, couldn’t virtually any homeowner transfer his or her own property’s legal and equitable ownership to a trustee in a bona fide inter vivos trust, and then lease the property from the trust?

Their lease is not a bona fide lease.

But the idea has been buzzing around in my head, and was really just hoping for a good reason why it WOULDN'T work ;)So, the law states that it must be a bona-fide tenant, at near or close to market rent eh?

Secondly, unless you're an attorney you probably shouldn't be giving legal advice without at least having a disclaimer or showing some examples of case law in order to prove your point.Here's a link to The Fair Housing Act:http://www.justice.gov/crt/about/hce/title8.phpand here's the specific section that I believe, although I'm not an attorney, proves my point.Sec. 804.[42 U.S.C. 3604] Discrimination in sale or rental of housing and other prohibited practices As made applicable by section 803 of this title and except as exempted by sections 803(b) and 807 of this title, it shall be unlawful-- (a)To refuse to sell or rent after the making of a bona fide offer, or to refuse to negotiate for the sale or rental of, or otherwise make unavailable or deny, a dwelling to any person because of race, color, religion, sex, familial status, or national origin.

If the owner loses the house to foreclosure, and if you are a bona fide tenant and the terms of your lease are in order, you are protected by the Tenants in Foreclosure Act and the new buyer or bank has to honor your lease.

Figure in Taxes and Insurance and you have a bona fide investment decision made. :) I would estimate the true honest to gosh cash flow on that property to average $5500 - $6000 a year.

However, if a bona fide offer is received from a third-party prospective buyer, then OWNER shall again notify HOLDER in writing and offer the Property to HOLDER at the price and upon the same or better terms as named by the prospective buyer.

A better person may be able to figure out where those threads are.Without a true irregularity of sale (and I can't tell from your posts if there was one or not), you are a bona fide purchaser.

You could possibly find a private lender but as far as a bona fide financial institution lending you $45,000, they might do so, but not necessarily for real estate purposes.