Here's a short treatise by a title insurer:A deed in lieu of foreclosure is a deed given by the owner of mortgaged property to the holder of the mortgage or its designee where the mortgage is in default and foreclosure is a possibility.

Your ability to connect with them on a personal level matters more than your offer.Think about it:  • The “Used Car Salesman” is only focused on closing the deal as fast as possible.

Zillow is saying the house is worth $90k but recently a tree went through the back end of it and I was hoping to get some information on possible ideas or suggestions on what I should do about the situation.

I don't see any possible way to accomplish this goal. 

Here, to find properties under market value is seems not possible and, cashflow is very minimal and, I see equity is the quickest way to get out and, invest in another property. 

It's possible but the rates would be high.

I am thrilled to join this community as I embark on my journey into the world of real estate investing while I’m new to this field, I am able to learn connect with experienced investors and share my progress along the way.

We have an amazing realtor who helped us find the property and helped us run numbers on possible ARV, @KiKi Wood. 

I personally wouldnt - I am sure you could use the equity to get more than $600/month in cash flow however that would possibly require some work and risk on yalls end.

I've half-thought about the possibility of doing a couple of flips in the same micro-market by adding ADU's.