I am working to get the wheels in motion in terms of my first investment deal.

Even with family make sure it's done right so that you start becoming familiar with the motions and this doesn't just become a one-time off deal.

Me and my mother in-law are trying to get this property that her mother owned her mother is deceased and we on in the process of foreclosure and the judge wants us to file a motion my question is should we file it ourselves or should we get an attorney. 

In order for the court to do such things a motion must be filed by either side and the court must first stay or postpone the sale and then the court must set aside time to deal with the motion.  

The only way to succeed is to market to people who have either had their BK case dismissed by the court (usually for failure to file documents timely) or if a lender files a Motion For Relief From Stay (because plan payments are not being made) AND the court grants that motion. 

After going thru the motions when starting out I actually began to get calls from desperate homeowners who wanted to actually GIVE me their houses!

There was a large payoff coming the defendant's way that afaik they never received because the 3rd party investor put in an emergency motion to stop the distribution.

@Jessica Zolotorofe A Letter Of Intent is a Commercial Paper under the Uniform Commercial Code. 

A new roof will be 5-10k in the city, a new oven is $500, a new boiler is $4000...your maintenance budget is blown if you're basing it off of that.You aren't budgeting for vacancies (pay yourself to deal with loss of income and finding/vetting new tenants)You aren't budgeting the utility bills, and you likely pay for at least waterYou aren't budgeting for city costs like license renewalsYou aren't budgeting for your time, potentially, by even having a line item for "management" where you can pay yourself some money for your time.So, if your goal is the highest rate of return, go through the motion of finding out what that is and report back to us.

They would only do that IF the borrower filed a chapter 13, filed a motion to lien strip a junior lien, was successful in that motion, and completed the chapter 13 and got their discharge and THEN notified the lender to reconvey the title back to them.