The situation is this: My Grandfather passed about 20 years ago and left his estate to 4 children, uncle1, uncle2, aunt and my fatherThere are multiple properties/parcels (6 total) in the estate that are co-owned by the 4 siblings, all 4 names on the deeds.Uncle1 defaulted on his personal mortgageLien holder(bank) repo’d his home but home was underwater, and thus still owed beyond the repo.Lien holder found out about the shared/partner assets that uncle1 had with siblings and decided to go after themI'm not clear on the exact process, but I believe the bank will take possession of uncle1 (1/4) share in the partnership properties then will legally force the 4 way partnership to be dissolved through a court proceeding.The other partners or another investor are able to buyout the bank owned (1/4) share at an appraisal price.The appraisal is filed with the court so there are no shenanigans with valuationIf no buyout then the whole property goes to sheriff saleTwo of the parcels are rental income farmland, these are the ones I'd be interested in investing inNobody in my family nor my grandfather are/were farmers, the acreage has always been rented outI’m trying to determine whether I can buy out Uncle's1 share from the lien holder bank at the appraisal price with an IRA LLC and become the 4th partner?

They have perfect credit scores 830 and 790 ( I received the credit reports) (They are a retired couple 69 and 62 no children). 

I love that everyone here is as excited about real estate as I am it has inspired me to take action towards my financial & real estate investment goals!

Then he had his adult children and their families move in so things go ugly real quick.Thanks for the heads up about the repairs.

However, like many of the rest of you, I stumbled on this little book called Rich Dad, Poor Dad and my entire outlook on life changed, and that was all it took to spark inspiration for me to take steps into the world of real estate--building the asset column, am I right?

BP podcast 73 & 191 inspired me to look in other markets and I found Benton Harbor MI. .

Im a single parent of two lovely children and I want to be self employed in the next 2 to 5 years.

Thanks for sharing and your inspiration.

Also @Austin Fruechting, @Nathan Brooks, @Ian Reeves, and @Andrew Syrios for their inspirational podcasts- really enjoyed them all!

while still inspiring confidence?