Research is slow -- turns out the owner of record has been dead for 20 years -- but I eventually identify 5 people I think might have reasonable claim to the lot (if they hadn't stopped paying the property taxes 8 years earlier) - four grandchildren, and the estate executor of the only son who survived the owner of record. 

With expert insights from Sanjeev Advani, a connoisseur of real estate, property management, and construction news, this post unfolds the strategies you need to not just survive but thrive in today’s real estate market.Understanding the Impact of Interest RatesInterest rates affect the cost of borrowing, which in turn influences the real estate market.

Networking mode.

Yeah, it's an interesting model--I can see how it could work really well in some scenarios and not work at all in others. ...for one thing, you have to use furnishings that in-line with the look and grade of the property, and which are appealing to the typical tenant--which I'm sure can be a bit hit and miss...   ...I suppose that one hidden benefit with a furnished unit is that you don't have so much wear and tear from tenants moving furniture in and out, hanging pictures on the walls, etc....I just finished a rehab at a LTR property--the tenants were pretty good and didn't cause any excessive wear/damage, but even then, there's always a lot of patching and re-painting that needs to be done after long term tenants leave....

In my model I tied the rent to the purchase price (Rent = .008* Purchase Price) so i couldn't really test that variable much without some sort of data table. 

We put the HELOC into foreclosure to avoid it getting wiped out in the sale (The senior would have survived the sale).

As Jay noted, you need sales skills to survive in this industry. 

Under the laws of most states, when a corporate entity is dissolved, until a court appoints a receiver, the business and affairs of the entity shall be managed under the direction of the trustees of the entity’s assets to undertake the acts necessary or proper to liquidate the entity and wind up its affairs.In the context of LLCs most state laws permit the remaining members (or sole surviving member) of a limited liability company or, if the LLC has no remaining members, the personal representative, guardian, or other successor to the last remaining member of the LLC to wind up its affairs.The title company needs to do its research and not resort to the "you need to reinstate the LLC" position that many default to.

They know HOW TO SURVIVE LIFE.

But don't be in the FOMO mode;  there will always be opportunity.