I had a non-performing loan once where a borrower would do a deed in lieu, but there was a deceased co-borrower, and my attorney required me to go through the foreclosure process to clear title.The borrower knows you’re foreclosing and does not contest the foreclosure and “turns over the keys” to the lender.  

Quote from @Sri Reddy: I am a newbie to real estate investing and looking for guidance from the teams here to understand the sources from where we can find any small retail spaces to buy.

Hi Lenny,Probably I would wait until you have a steady income source to make it easier to get a mortgage.

The rise in home equity over the years can be credited to two key factors:1.

Being out of state adds challenges, but the key is building a solid team.

I recommend researching the average appreciation over the past 10 years in your target area to get a clearer picture.As you know, in real estate, ROI comes from multiple sources: Home Appreciation:  Reno Appreciation: Value added through renovations or improvements (usually just in the first year).

I'm particularly interested in what tactics people have implemented for sourcing quality deals (not the I need 100% financing bs)Would you:1.

Given the expected appreciation, what is your expected total return if you hold it over the next 5 years.Can you cover the large negative cash flow, turnover costs and maintenance from other sources?

The key is a great contractor and a clear, detailed, well-thought-out scope of work. 

The ability to see the major issues before you buy is key especially when buying dilapidated early 1900's homes.