However, I’d think most contracts have a deadline for performance where you can then terminate and get your earnest money deposit back and move on.

@Ben Halloran I use a service, [email protected], which lists the names and addresses of deceased property owners, based on obituary filings, which preceed the probate publications by weeks or months. 

Already filed with the court for damages via the attorney.

Go to your county and ask for instructions on filing a quitclaim deed or warranty deed.

Like others said - you get a homestead exemption (if you do the work to file it), you get special financing (FHA, low money down), your insurance can be better...

@Tavish File, it sounds like you would be working to pay MORE money!

It sucks to live in a job site, but you can go slow and conserve cash as opposed to renovating the entire place on a deadline to get it rent ready.

Managing the $73,000 renovation budget required careful oversight to stay within financial limits and meet deadlines.

Interestingly my current CPA mentioned that i don't get much benefit of depreciation is that in San Diego based on my previous filing based on Turbotax the land value is lesser then the total cost of the building so not getting much depreciation benefit.

I see a lot of people who are gonna get crushed as they are buying NPL's based on thinking they will foreclose but the borrower has a high likelyhood of filing BK to keep their equity and people are paying 80 cents for a 3% loan that is a year behind which is insane!