I’m an investor with properties in both Indianapolis and Kokomo, as well as the owner of a property management company overseeing numerous units in Indianapolis for out-of-state investors.

if i were to acquire these and have them be owner financed, I would want clear title and the other mortgage on this lot removed - especially if my loan has a balloon on it that matures prior to the existing loan, as how would to provide clear title?

If I remember correctly, there is a provision for properties with Fannie and Freddie loans to be moved to single-member LLCs after 12 months of seasoning if the only member of the LLC is the owner/borrower on the loan. 

Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.CCLBA has really cheap parcels for sale for owner occupants.

They are a commodity, and owners are competing directly against hotels in this space, so rents are ultra low.

There are a lot of people that are wanting to owner occupy, which has driven greater demand for these properties. 

Common problem, no easy answer:(We try to allow our owner clients to arrange their own maintenance, but have learned the hard way there MUST be limitations:1) They can't hire our people!

[2]   Do you know if the buyer is going to owner occupy or is it an intended rental?

It's a small shop and we deal with the owner, no one to escalate to. 

Property owners are a prime source for collecting revenue.