I think I've seen you on the Facebook page for the Colorado Springs Short-Term Rental Alliance, so I know you already know of the proposed ordinance down there.

The main issue that you'll run into with what you've proposed is that you cannot legally rent out 4 rooms separately in Philadelphia.

I think these community banks might be the ticket, especially after recent legislation. 

All great ideas....The only additional piece of information,  is that Florida is a legislative state and everything here takes a long time to run through the process of short sale or foreclose.My goals is find a way to help these people save what is left of their credit and make a sale.   

It gives you a decent ballpark for what certain things might run.Just make sure that anytime these companies are willing to speak with you and help you out, the day you have the keys, make them the first call for a proposal.

Nothing in the post mentioned what the balance owed is - just the amount to stop the foreclosure which could just be the arrears.My guess is that the monthly mortgage payment was less than the amount they proposed as rent; if they couldn't make that amount of payment while THEY owned it, what makes you think they will pay that every month when YOU own it?

This takes new legislation.

Another factor to consider is that Las Vegas has a growing economy, increasing population (2% to 3% annually), increasing per-capita income, more jobs now than before the crash with ~50,000 less construction jobs, affordable class A properties, pro business legislation, no state income tax, more companies and individuals moving from California and very little remaining buildable land.

This is a question for a CPA but you may want to wait to talk with one until after the tax reform bill that was proposed today is either passed or rejected.

How do you propose to get all your money back out without forcing the appreciation first?