So, I will set it up that way; he suggested this, because if there are disputes between me and the tenant, then they are more easily resolvable if the entity is in TN.Great news, if there is anything I can help with here in Memphis please reach out anytime. 

Foreclosures aren't a super big source of leads though and most end up on the MLS anyways so they many people will see them.

Would you be so kind to share please?

I bought a ton of them about 10 or so years ago.

Well it looks like non-profits are exempt....So I suppose Dope Traffickers will just buy an ongoing concern non profit and operate that with ownership as an IBC (International Business Corporation) in some privacy haven, or Russia, or Yemin or somewhere (if those places have privacy laws???)

Quote from @Robert Smith: I am interested in possibly doing so.

Andrey this the same deal you were posting about a few months back.. if so i would contact Kathy and see whats up.. its exactly as i thought it was.. seller financing so the debt was to the seller who then probably sold the notes to other investors.. so no recourse just bad deal 

And this is why you fix your DTI issue, so you can do things properly and not get "creative" and learn the hard way.  

So am I wrong?

Purchase price: $417,500 Cash invested: $37,575 We weren't super happy with anything we were seeing on the market, so my husband and I had just started writing letters and looking off-market... until we saw this property.It'd been sitting on the market for months, originally listed around $550,000.