The tenant was paying rent to the previous owner but hasn't been paying rent for a while since the property was foreclosed and sold to the bank.

.- Strategic Partnerships: Building direct relationships with REO asset managers, bankruptcy attorneys, and bank liquidation teams can provide exclusive access to bulk sales before they go public.- Bulk Purchases & Portfolio Acquisitions: Banks and hedge funds often look to unload non-performing assets in bulk.

Also, banks typically use a valuation process that does not favor the BRRRR strategy. 

It’s just part of the game**They have multiple leads & opportunities in play- If you’re banking on one contract to make or break your business, you’re already losing.

What local bank or credit Union (Navy possibly) do you recommend he goes with? 

The bank and mortgage company we are using is giving us a hard time about us co-signing due to my separation and new job due to only having been separated a couple weeks now.

First Financial Bank has no record of having done business with Goodin Development.

@Eric Yu, @Brad Jacobson, I bank at MACU, but I use a mortgage broker for most of my loans.

Bank won foreclosure in 10 months so luckily it cashflowed as well as it did. 

there is no bank, no mortgage, and therefore no due on sale clause.if there is a mortgage in place, and you take the payments over, this is typically referred to as subject-to or sub2 and is much higher risk for everyone involved.