People in the industry can get rich very quickly, thanks to stock grants, and they are often eager to put that money to work.

There are a lot of wonderful lenders that offer first time buyer grants too!

Granted MFH are more common in rougher parts of central jersey and my purchasing power can't acquire me something in North Jersey here homes are much more desirable when it comes to appreciation and schools and safety.

Granted MFH are more common in rougher parts of central jersey and my purchasing power can't acquire me something in North Jersey here homes are much more desirable when it comes to appreciation and schools and safety.

I believe that the cost of every legal hoop you make the Trustee jump through to complete the foreclosure will be added into the amount owed and will reduce any possible overage from the sale of the property.In addition, unless there is a fatal defect in the deed of trust, the sale is going to go through and a request for a TRO (which I doubt would be granted) or filing Bk (which I'm not sure would stop the sale since you're not the borrower, have no liability for the debt, your interest arose after the foreclosure began and you had knowledge of the 1st DOT's foreclosure) will not stop it. 

Now granted that has gone off the rails because I have decided to change our focus because my end goals changed, but doing the exercise helps create the path to walk and figure out what the next steps are.

Granted MFH are more common in rougher parts of central jersey and my purchasing power can't acquire me something in North Jersey here homes are much more desirable when it comes to appreciation and schools and safety.

Sorry to hear this.I would always say that "There is nothing wrong with any property as long as the price is right".Granted, some are not salvageable and the deal doesn't make sense even if the seller paid to me to take it lolOver the past 10 years I have witnessed many investors trying to do the same thing as you.Purchase from afar without buying turnkey and trying to do it themselves.This has been popular especially the last few years.Not many succeed unfortunately or they don't succeed in my eyes as they are into deals for much more than what they should be.There is a big trend going on where folks are made to "feel involved" with the purchase, rehab and property management process.The properties look great and off-course they do as rehabs cost $40,000 - $50,000.It doesn't sound like a lot of money for folks from CA and NY but for our local standards it is and IMO kills the cashflow and is unnecessary overcapitalization.Each to their own I guess.Just had a call the other week with a fellow from CA that bought a few turd properties from a local scam artist and is flying to town to try and rehab them himself.Another fella I managed to save even tho he lost his deposit of $1,000 as the seller (Another known scam artist) made him commit to the deal without allowing an inspection or even a walkthrough...If that isn't a red flag then I don't know what is 🤷‍♂️Hat's off to you for flying into to town to see the property for yourself.Wishing you much success

Granted MFH are more common in rougher parts of central jersey and my purchasing power can't acquire me something in North Jersey here homes are much more desirable when it comes to appreciation and schools and safety.

Granted MFH are more common in rougher parts of central jersey and my purchasing power can't acquire me something in North Jersey here homes are much more desirable when it comes to appreciation and schools and safety.