The first mortgage will provide a payoff to the sheriff/court and the funds from the auction go to them.

Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

Also SOP for such is individual property owners will, individually, address total site cleanup in concert with there insurance providers.

Both of you provided important information.It's true @Jason Wray that Florida is always a hotspot.

Using a HELOC can provide you with the necessary capital at a lower interest rate to fund your next projects without leaning too heavily on hard money lenders, which can eat into your profits.Here are a some actors that you would want to consider:1.

Bridge Loan: A bridge loan could provide the $150,000 you need until your tenant-free property sells.

Who is providing 85% LTV financing on that?

You must provide accurate, current, and complete information during registration and keep your account information up-to-date.

Have you reached out to any social service organizations that might be able to provide tenants to your property?

The more affordable price points, combined with a steady rental market, provide some peace of mind.