Does anyone know stats on this or have personal experience in this region?

Now were back to a mare normal world where a person has to have that skill of forecasting, analysis, ability to "read the tea leaves" for where it's all going and if todays acquisition makes sense. 

It is regulated and you need to learn the law before accepting any funds from another entity (person) in a syndication.

@Kyle Cross, correct me if I'm wrong, but I think maybe what you're getting at is potentially pitching to your parents that you would like to take a shot at personally managing the units to gain experience and some form of compensation.

I have personally seen the "Deed in Lieu in escrow" tactic with two different private lenders in Louisiana.

It's important to understand that a person can sue another person, but that doesn't constitute a judgment.

My expertise is deal analysis, buy and hole strategy (creative financing) and personal finance. 

Little did I know it would take decades to ripen :)3. bought a foreclosure sale .. traded the house for the 3 acres the person who owned the house. 

I am not sure if the Legal person I talked to understood the length of her time there so that could be the confusion. 

IF it was not on an auction site none of the information would be known unless you do your own research. they could say its a 3bed 2 bath home and you go buy and its burned down (seen that before). 100% is on the person bidding at auction.