Another big issue with Rickwood is, unlike NE dekum area, it's so bad it has little chance to he hip , trendy, or improved anytime soon 

@Ray P.Be careful with phrases like "promissory note to myself" relative to using a SD IRA...typically you cannot directly benefit personally when using a SDIRA, all transactions have to be done in the IRAs name.With 15 K, I would probably:- Leave it, invest it as best you could with stocks.

You can also set up Keyword alerts" for phrases like tax liens. 

The reason I say that I am an Investor friendly Agent, is that I know time is of the essence, in every which way of the phrase.

Are you advocating for Multifamily in an area like @Todd Kalsey describes as opposed to single family housing or would you stay away from an area where the growth trend is focused on new apartment developments?

In fact, it may be that the lender is deluded; thinking that that phrase may help him tax-wise. 

Another way to phrase it might be to say 'I am WILLING TO take (dont say purchasing just yet) this problem off of your hands and turn it into monthly income  for YOU without all the landlord hassles. 

I'm from DC and know the city pretty well (the entire city, not just the currently hot or trendy neighborhoods), so happy to assist folks who are less familiar.

I went to college in Philly and lived in almost all the trendy areas in the city.

A few years ago a realtor posted elsewhere that in S Cal she wished sellers wouldn't run out and paint their rooms a trendy gray as her buyers' furniture was usually warmer, earthier tones that didn't go well.