I am in the DC area, so its tough right now due to values, so I am focusing on properties in the Southeast in a handful of select secondary markets.The biggest issue is that I do not have people in place (the infamous "team") to enable working from a distance.

In such a case, any amount remaining once all debts and costs have been satisfied shall be returned to the mortgagor.Conversely, when the mortgagor has little to no equity in the property - particularly where the equity is less than the sum of all amounts owed, the court may shorten the redemption period and, at least in our experience on this end of the Country, enable the lender to take possession and sell the property at a price between what is owed and FMV.2a) When you reach the stage where the lender has filed a Statement of Claim, the note extended to the mortgagor has been accelerated and is due in full (principal, all accrued interest and any costs or penalties).   2b) During the redemption period the mortgagor has the right to redeem (buy back) the property.  

I'd guess the number of JOBS created by REI CF is not large... and what the regulators have started to enable, they may well retract in the future.

If the value HAS gone up to the point where I have 20% equity, then I could convert my FHA mortgage into a conventional, thereby enabling me to drop the PMI. 

I think you need to reach out directly to sellers or have connections that enable you to get first look on pocket listings.

If I could get $100k out of it that would enable me to buy at least two properties out of state and keep moving forward.

Now I am sure you may come across an agent in our area who says they can write you an assignable contract...just understand that agent does not know what they are doing, nor do they understand the scope of what their license enables them to do.

I only have 2 purchases per year in my plan, but freeing up the seed capital quickly would enable me to buy the second property if it came along soon after the first for that year. 

If you have a respectable amount of cash on hand, I suggest seeking owner-financing deals that will enable you to get : a property, experience & you can negotiate a deal to pay a balloon through a conventional loan in a set time frame once you are able to qualify for a loan.

I feel that I will be able to pay off my debt in a short amount of time if I am able to live for "free" in my investment property.I hope that this head start that I have will enable me to be a successful and prosperous investor!