Thank you for your reply that gives me a lot of food for thought!

Depending on your amount you may want to consider a debt fund too as its less work and your money is deployed/paying you interest so you do not have to keep finding deal after deal. just some food for thought

*If I hire a full-serve agent, and negotiate a commission of 3%, the commission on a $550K sale would be $16,500

So, if you are bidding in a competitive market, a HELOC will serve you better because you can show a proof of funds of the money in your account.

We are in KS and serve a different niche and a slightly different model - but same all in all same type of operation as you -- we are licensed for 41 beds but really can only hold 34/35.  

First, there's not enough money in the budget to hire all the deputies they need to serve these things and Second, even for the ones they have money to hire, they can't find people to hire.

The most basic way of looking at this is that they serve to protect consumers from misleading advertising, scams, etc.

According to Experian "78% of U.S. consumers' FICO® Scores are higher than 620." 620 is objectively a very bad credit score with a high probability of delinquency.For my rentals, 700 is the minimum and any applicant with lower credit score will need someone else to serve as a personal guarantor.

You may want to check whether the state was served in the foreclosure, but if they filed after judgement was obtained likely shouldn't matter. 

My layman's thinking is you have not been served as a creditor, and have not been legally barred from reaching out to the tenant, so you can probably simply mail their statement to them and it won't be an issue.