And no I don't need to...Because I've invested for over 12 years in many markets nationwide and I have a good understanding of how and where most 4plexes are developed. 

lolI'm happy to check out the ghetto also just for giggles lolThe Detroit ghetto is one of few nationwide that I haven't yet checked out.Thanks

I had an outstanding realtor (Dakota Cooley) that helped me through this, answered all of my questions, and was there every step of the way.

Lender: XYZ Bank, Principal: 7000, Date: 1/1/2012So the question is if I buy at auction do I have to pay outstanding balance on which of the deed of trusts?

Instead of searching for a specific type of commercial you might let the economic opportunity guide you to a property.One additional note, be sure to keep an outstanding set of books on your CRE.

This is not an auction for the lien, in NC you come away from an auction not as a lien holder but a property owner.The property is valued at say 250K, the junior lien bidding started at 100K and ended at 190K and to the best of my knowledge and for the sake of this question the outstanding balance on the senior lien is 50K.

Your equity is define as:The value of your house - your outstanding mortgage.  

We were absolutely devastated.Where we stand now: we immediately called Nationwide (our homeowners insurance) to file a claim, got a mitigation company to come out and they’ve basically ripped out the house down to studs on the first floor.

I was wondering if anyone knows a nationwide lender that is doing 80% LTV refinances on residential multi-families.

Hey Thomas, we can offer investment purpose loans for Residential & Commercial properties nationwide.