In today's Wall St Journal- Fortune Favors Early Movers in America’s Property CrunchInvestors willing to buy buildings when everyone else is running scared typically get the biggest rewards.

This also plays into your Dad's favor of creating more cash flow. 

If you are just holding the lot, then there are more favorable terms available than what you are currently experiencing.I always recommend shopping at least 3 different lenders (even more), as every single institution has different terms and requirements, and they all offer different financing products.

It’s a non judicial state so sale date will be February / March.So they either sell it, refinance it or another way to get the $ - I guess the borrower can file bankruptcy but that would be interesting since he gave up his interest in the property.So we could easily get a motion for relief

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With these systems we find who tossed the trash out and tell them they have by the end of day to pick it up or I charge them $100.We have other motion sensors that wake me up at night.

The loan programs for 1-4 units have more favorable terms depending on if you're buying with income with a conventional investment property loan or having the loan underwritten by the rents with a DSCR / rental property loan. 5-8 loans generally have tougher underwriting and the rates are higher if you're looking at DSCR loan options for 5-8 units. 

Do yourself a favor and read up on your state's foreclosure consulting laws.

@Angel M.Please discuss this matter with your CPA, who will likely tell you this is self-defeating.Passive income from rentals is favorably taxed. 

Share your tips and tactics for negotiating favorable terms, including price, contingencies, repairs, and closing timelines.