You should also get recommendations for agents and investors in your area for suitable contractors who specialize in this loan program....not all do and you don't want to waste your time.

This company basically contacts landlords and, working on contingency, attempts to find a suitable renter for that home.

However, when suitable, the Reverse 1031 Exchange takes the majority of the risk in a 1031 Exchange out of the picture.Forward (regular) 1031 Exchanges mean that you sell (and trigger) your capital gain.

We are having trouble finding a tenant and at present I'm finding that we don't have the time/patience/resources to find a suitable tenant on our own.

An S corp would probably be more suitable, but I prefer the C for many reasons.

Yes, you don't want to end up buying a dud that never cash flows but this is more of an appreciating market than a cash flow market so using Internal Rate of Return would be more suitable. 

Sounds like they are using you to extend as long as possible until they find a suitable renter.

So, to that regard, you would not be in a position to foreclose since you didn't actually make demand properly and allow suitable time to cure.

just passed my RE licensing exam YESTERDAY ;ponly trouble was looking for a suitable "brokerage" to hang licenseI don't deal with REO (or haven't YET)but reason why I did it was after doing this for ourselves for 12 yrs...ppl aka family, started throwing $$ this way to invest for them...I gladly did the project, because I need a ticket into this new market (new here in town) and we just bought a commericial retail store rental.I found out quickly, at least here, I can't get compensated, and can't deduct anything...... and I can't property manage without license...this deal is ok b.c I am POA and this is family, but if I wasn't ...... probono work!

There are numerous factors that play into the suitability of a lot, especially when the dimensions are tight.