Does anyone know the details of bidding towards a 2nd mortgage of a home?

@Mike Loy, As a realtor you qualify for a Solo 401k, which has many advantages over self-directed IRA, here are few:Contribute 10X more than into an IRA (up to $61,000 per year per participant)Access up to $50,000 from your retirement account tax-free and penalties-free at any time prior to retirement via participant loan featureExempt from UDFI tax on leveraged real estateInvest tax-free using Roth 401k sub-accountCheckbook control without use of an LLC Custodian is not required = no custodian, transaction or asset based feesYou can read it in more details here:https://www.biggerpockets.com/blogs/2810/21298-sol...The bottom line is that if you qualify for Solo 401k - it would be way better than an IRA.

So I will give some details and some analysis I have to this point.

Do you have a fascination for Camden County or Wildwood / Jersey Shore?  

Used him 4 times...hes the guy realtors hate because he is so detailed.

I included a picture of the hud on my blog post for detail.

@Jason DiClemente if you're serious about your offer, please private message me and I will happily send you the details I have as of now and you can make your decision. 

Happy to answer any questions you might have in detail.

@Michael A Egenriether yes we call that a work for equity property.I don't know the details but based on your numbers here I would lock in a Purchase Price of $57,300. 

I could use a little help understanding the details of the listing and how to proceed.