I'm not exactly sure why he didn't look into it further, because he was there when we voted and has been big on preserving the quality of the lake.

Rule of thumb: posts by this person are inflammatory and have negative intentions not meant to help anybody.Conclusion: ignore these posts to preserve sanity and prevent hours of wasted time/effort.

I know I need to go talk to some lenders, but thought I would get some advice here too.I realize there are ALL kinds of different Life Insurance policies out there - some great and some not so much.One of the reason we keep a large cash value in my LI is that this 'lump of money' was a gift from a family member, and our goal is to preserve it for the next 10 or so years to make sure different people in the family can be 'taken care of' if needed.

99.999 times out of 100 they will want it to go through the entire REO process (eviction/preservation, valuation) before selling after auction.

When a loan goes into default, and the lender determines the property is vacant, they hire one of their preservation co.s to go in and secure the property, change locks, winterized the house, make weekly inspections, etc.

I want to seller finance this 2nd one (like the thought of no ins, no tax, no maint) to preserve cash ....

After a few years rental history on the other units, you could potentially rent out all of it and move to a nicer home, and still use the advantage of buying a primary residence so still preserving some of your low down payment options (although probably not another FHA), instead of the minimum 20% down for investment property.

I'M IN THE DETROIT AREA AND LOOKING FOR SOME SOLID ADVICE AND HELP GETTING MY NEW BUSINESS OFF THE GROUND.I CURRENTLY OWN A PROPERTY PRESERVATION COMPANY WHICH LENDS ME SOME INSIGHT INTO MY MARKET AND HOW I CAN APPLY MY SKILLS TO THIS INDUSTRY.

The most common situation would be where you would finance a deal now in order to preserve cash for a later deal that couldn't be financed -- and if you didn't have the cash, you couldn't do the later deal.

Junior IRS liens (typical) are wiped out by the foreclosure sale but the IRS retains a statutory 120 day right of redemption, during which time the IRS can buy the property from the purchaser for the price the purchaser paid plus any reasonable cost to preserve and secure the property.That said, it is very rare that the IRS redeems, unless there is a LOT of equity.