Alabama allows for a Deed of Trust instrument which will grant you a power of sale.  

The "Pennysaver" is nowhere to be found in Victoria, (although I should call distributor).It seems to me that partnering up with a trustworthy Realtor is the only way to go, paying then a Finders Fee for a lead, and another fee for a COMP (comparison) - and hope that (s)he doesn't scoop up the property before you do.I'm looking for a deal (who isn't) on a residence, and even better if I could use it as a music-yoga studio.After I escape the isolation of this island I can network with a local REI club for more info.Many Thanks.  

Keep in mind that in most CA counties you can't view the actual documents online, you can only view the dates, instrument number or book/page and type of document.  

Based on that document, whose date is June 16, 2011, another person "proved" to the notary (down in California) and "proved to me (notary) on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity and that by her signature on the instrument the person or entity upon behalf of which the person acted, executed the instrument."

Bummer.The amount of documentary stamps should be noted on the instrument - you can calculate the dollar value from that.

I've got enough musical talent for all of us.

Some have you bid on the interest rate, some have you bid on the percentage of the property that covers the TLC, some allow over bidding (you pay more than the instrument is worth on day one).

Examine personal business models to avoid being on the wrong side of the wealth changing hands when the music stops.

What about inviting the downstairs person up, turning on some music or the TV so they can see what the normal noise level is like and then going down to their unit and see what you can hear? 

@Justin GourleyYour plan is not likely feasible.Any debt instrument that an IRA uses must be non-recourse.