A few tidbits for anyone else reading this.  

@Jose Saladin you will likely not get a CO (certificate of occupancy) to be able to legally rent this out.

I can think of one instance where this was applied.  

@Alex Schumer I see that your new to real estate - congrats in this life changing journey.  

You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property. 

This probably means the 1st year you are on the phone 8 hours a day 5 days a week calling people and trying to convince them to sell.  

Glad to have you as part of this community, Bryce! 

This is rapidly becoming the 4th boom/bust cycle I've seen.  

I hope this helps.

I am not able to determine your purpose in posting this, since you did not also offer solutions for the seller or for the investor.The situation does not unfold when the homeowner receives a solicitation, as the article mentions...it begins when they are late paying their obligation to their lender.There is a timeline to a bank beginning foreclosure.