Leaving out auction and foreclosure costs for a second, when you write that check for $220k the trustee is going to pay BigBadBank the $175k they are owed first, then he's going to pay LittleBadBank the remaining $45k, and you will get a clean title as the process is going to wipe the slate clean.

I don't really need to know much else about someone - if they can't pass this test, why should I believe that they will be able to run a business that will generate cash?

Quote from @Aaron Raffaelli: As the title suggests, I am just starting to enter the REI world.

If I want to transfer my title to my younger brother, what is the best way to do this?

See responses to your questions below: Correct, California is uniqueTo qualify for REPS you need to meet a number of criteria, including (but STRs that meet IRS criteria generally don't need REPS to leverage tax benefits): More than 50 percent of his/her time working in real property businesses; AND, More than 750 hours of service during the year.

We exclusively travel during non-peak seasons, so we would be looking to rent out completely during busy/peak seasons, and would stay at the place during slow seasonsQuestions for the experts out there:1. which development(s) tends to be the best for ROI/have the best occupancy rates?

Business loans typically won't let you purchase a property if you read the fine print.

Small business owners are struggling more than I thought. 

In fact, approximately 40% of our business involves the Section 8 program.40%...

Does anyone have or know any resources for analyzing car washes? There are a couple of car washes in my local area that are for sale that I am interested in but do not know where to start.