It looks like they have failed to make payments since April (we have been paying rent on time, auto-withdrawn from bank account).Ideally:  I'd like to have the loan/trustee waive all fees and interest, potentially lower the asking price ($10,000 discount on a $160,000 outstanding balance of a home that would likely appraise for $185,000) and we'd immediately go through the purchase process as is.Do I need to bring the Trustee into the discussion with the owner at the same time to make this deal go through?

Outstanding.

I just joined a great nationwide group of investors that are absolutely KILLING IT!

Always check for out stand judgements on the home cause that is a different thing all together.

Also join some of the FB groups such as the WCN crew, Notes and Bolts, and nationwide note buyers and sellers.

@Lumi Ispas outstanding info Lumi thank you.

Rent $1440, FMV $165, outstanding mortgage 94k.

(Our attorney gives us an update on every file that is outstanding to start the week) 5) Communication with buyers and sellers throughout the closing process to move things along. 

Is there anyway there could still be an outstanding lien on the property and how would I find this out?

In the past couple weeks I’ve spoken with over 30+ banks, not exaggerating, and I was unsuccessful in refinancing a manufactured home I bought & rehabbed a couple of months ago - asking many Nationwide Banks, Local Banks & Credit - a few will, but only if its a Primary or Vacation Home (LESSON LEARNED!!!)