I agree with the above statements; I would join any local Facebook groups and connect with them on their experiences. 

google "all inclusive Deed of Trust" fantastic CA document we used all the way back in the early 80s If I'm not mistaken though a wrap would require the 2nd buyer to also agree to financing terms; which would be the same as me (the 1st buyer). 

@Dominic Mazzarella agree.

Quote from @John Reagan Johnson: I would agree with Drew, and I was just on a call with investors yesterday for a mastermind I am in.

Credit Report or Verification of Credit History in their country of origin 3.

AND you get to live near some of the best beaches in the country. 

@Shawn Questa I agree with you that there could be some opportunity here, but personally, with that little equity in the property, I'd wait for the pre-foreclosure process to start and  perhaps you can do a short sale (though I don't know the details on how that's handled in TX).

I agree with that advice.

Agreed @Collin Hays.

Quote from @Nate McCarthy: @Jake Andronico, thanks for the input--I agree that any deal I would propose would have to be compelling to the seller, hence this think tank!