We have a house that's in rehab right now that had to sit for almost 6 months because too many other projects were already underway, but there was no reasonable way to pass it up, as even on a quick flip it would have been a $30-40k net, and as a B&H it will be one of our most profitable properties. 

I know of at least 6 TNREC legal actions still underway as a result.

We have just put our second property under contract and purchased another rehab that has just gotten underway.  

I was under the impression that in order for the B-C deal to be underway, I must have the ability to pass on the deed/title of the property to C.

@Andrew Davis @William Allen - I will definitely hit you up once we get settled in down and Florida and get underway.  

If you look on a map, you will notice that while Lakeland is a City, it is nowhere near the size of Orlando or Tampa.The positoning of Bartow and Lakeland put them within "commuter distance", but it is a bit of a reach.With the decline of citrus, there were some difficulties, but... there is a resurgence underway due to the contruction start-up of the huge new CSX Intermodal center, all the highway infrastructure work, and the opening of LegoLand which is starting a resurgence of home ownership, and a strong rental market.

Has the bank taken it back and is now selling it (reo) or is the foreclosure underway and you're looking at buying on the courthouse steps?

There is a casino/thousands of homes slated and under way kind of nearby.

Negotiations underway.  

After a long career in the software industry, during which I also successfully rehabbed and resold several residential projects as well as an entire small (6000 sq ft) commercial building and a Best-of-Denver award-winning restaurant, I am focused now entirely on real estate in the greater Denver area and Morrison in particular.At present I have four projects underway at once, which is a little too much for my capital and experience levels.