The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.

Unfortunately, this is a common scenario with building inspectors.

Unfortunately it sounds like you've already missed your capital gains exclusion if you've been renting it out for more than 3 years, as it's 2 of the past 5 years. 

The loan points I am being charged are unfortunately not inclusive of loan doc preparation fees and there was an appraisal required, which I paid for separately.   

People have different circumstances but I just like the premise of another great book, Think and Grow Rich, it takes lots of failures and successes and persistence to get to where you are. 

New forum member here.Long story short, I ended up through circumstances deciding this was a good time for me to buy a live-in two flat, which I mention because it is not a cash-positive investment for me.

Unfortunately, a good mentor isn't always easy to find.Think about it.

Coincidentally, I had this exact same question when renewing our local STR license as they've moved to a system (unfortunately) where the cost of the license is based on the number of bedrooms.

While this has been an unfortunate start to my investing journey, I still believe in RTR’s future as I see great opportunity here for investors when it’s done right. 

Unfortunately, I don't know anyone with a home or cabin in the area.