The repairs that I needed with this foreclosure was only cosmetic so I did all the repairs such as broken ceiling fans, paint, laminate floors and things of this nature was finished with them a couple of weeks.

Owning a tax-sheltered asset in a tax-modified vehicle seems a little silly.I am a big fan of owning RE with "real money" rather than retirement funds.

@Frank Fan, Generally contributions of property into an entity for membership interest do not create a taxable event.  

Maybe I was assuming it was the same across the board, but at my bank the residential mortgage lender I frequently worked with repeatedly stated  we do not a have minimum we lend.  

Im really not a fan of your plan, are you unable to borrow at a bank, the Commercial lender at a small community bank generally can close fast and at a low cost, I can do 6 mo ir 1 year Interest only at 4.5% on a 20 year amm, i need 20% down and fund fix up, but they would also do a loan based on ARV, and you put 20% of ARV down an they fund purchase and fix up.   

I'm not a fan of package deals because people are usually trying to add a junker in there.Second, seller financing might actually be your only option in this case.

LoopnetResearch local brokers and see if they have email lists you can sign up for, if not frequent their sites. 

You need to service them spring and fall, including filling or draining the pans, cleaning the pans and vents, replacing the pads, ideally every season, and lubing the fan and the motor.

Ketan Patel , ventilate the attic and get a fan up the to circulate fresh air.

Also, banks frequently bid the amount owed on the note, which is often more than the property is worth, so deals can be few and far between.