The process from start to finish would take four months and cost ~200k to build, with comps in the area around 355k-lender man said, refinancing would take six months as most lenders wont refinance a property unless its been built for six months, affecting the strategy to get paid out from refinancing quicker and closing out on construction loan-The property would not appraise at comps value, but at the cost it took to build, affecting getting paid out from the refinance.

So, he already had people & processes in place when he moved back to California and continued to DIY manage his rentals.- It's also interesting that he doesn't want to DIY manage anymore.

Most likely the new lender is going throught the foreclosure process and typically will end up taking the property back.The original posters chances of getting this property back now is slim to none as it will be sold at market value.  

I can walk you through one of our recent Equity Splits so that you can understand the process. 

Let me know if you have questions, I really went through and through the process on this deal. 

At the time, I was not going to say yes to that and I began the eviction process.

Was the process smooth, and did the property meet your expectations?

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

I know this is above and beyond what most municipalities require, but being fair will make the whole process easier.Additionally, a new landlord can reduce the 60-90-day notice by offering more moving assistance (cash and/or labor) if they move sooner rather than later.

It has solar power, a compost toilet, and other things of that nature to be self-sustaining.