@Nathan Frost, I recommend looking at the MyFico Community tab, and going through the pinned posts at the top of the Business forum. 

escrow needs to allow draw down for your mortgage payment ( which means sale went through) less maybe 2 months for vacancy, plus a generous repair allowance.

Simply take an owners draw for whatever you can afford.

A few factors are drawing me to them but would love some insight from those currently in those markets. 

Am I on the right track or do I need to go back to the drawing board?

He is probably drawing up a Quit Claim Deed, which is usually a 1-page document.  95% of what is in a Quit Claim is copy / paste so it shouldn't take that long. 

Perhaps a forum-specific "First Post" template pinned to the head of the forum topic list could help new folks see how to structure an appropriate first inquiry.#2 just about defines a "newbie": someone with little or nothing to offer other than futures.

If so, did you use an attorney to do it or were you able to draw up the documents yourself and have them recorded?

You hire them and they take care of this tasks which includes all the necessary documents and drawings to obtain the permits. 4.)

Example: November 2023 sold for 500kListed under foreclosure for 260k now.Photos don't show any updates or signs of any rehab being started.My first guess it these were bought as rehabs without inspection and people found severe structural issues that they cant afford to remedy, which is common with the amount of water around us on Long Island.What other assumptions or conclusions would you draw from seeing listing like this one?