Just a personal business philosophy, and I acknowledge that there are limits to my operation capacity/oversight.

My question is how do I work out a deal with the owner so that I pay him back over time the equity?

Since I work out of a home office (for now), I use a PO Box as my business mailing address.  

Most people drive miles to work, or work out of the house. 

There are also deals that can be find on jud.ct.gov for foreclosure auctions but those rarely work out because the people usually owe more than the property is worth or they get cancelled and postponed frequently. 

maybe a failed investment if it does not work out?..

Thanks Ben and Joseph,We work out of state so thought outsourcing management made the most sense but will look into self / hybrid management opportunities. 

Red-Necks on UTV's were a disaster relief force to the effect of about 100,000x what the "command & Control" capacity of Big Government was. 

Do you have the Capacity/Ability to close, do you have the Character/Credit to close (including relevant experience), and do you have the liquidity to properly provide enough collateral (are you injecting enough into the deal).

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.