Worked out nicely for all involved. 

Assuming this is a clean file, with no exceptions required, most Underwriters take anywhere from 48-72 hours to review a loan and get CTC, or provide further conditions. 

I've seen buyers leave $500k on the table and tell their friends they got a good deal by not having an agent involved. 

Is this for props that have a foreclosure filing against them so you can get to the actual owners for a pre foreclosure purchase ? 

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

The deal will involve complicated paperwork. 

As mentioned by @Chris Mason, Bridge Loans: These short-term loans can provide immediate financing until more traditional financing becomes available or until the property stabilizes and becomes more attractive to lenders.Interest rates and stipulations may be a pain.Out of the box here and requires a few more research, SBA Loans: Small Business Administration loans can be an option, especially the SBA 7(a) loan program, which can be used for hotel acquisitions.I heard someone  mention - Mezzanine Financing: it involves a combination of debt and equity financing, which might appeal to some investors looking for higher returns.

the OZ or Land REIT they filed with the SEC was revoked.

From that file, you can see the deceased and attorney.

A person files for and get's whatever from of welfare.