In RE, if your goal is CashFlow, your best bet is to Buy as many 'Doors' as you can to 'Diversify' your risk - Vacancy, CAPEX, the Unknown.

Maybe you arrange a co-investment with them or you do some of the work they need done, although disposition of loans is not a short term project so this method would have it's barriers to expose concepts to you which are unknown to you.

From the top of my head issues they may have could be divorce, liens, second mortgages, back taxes, other entities claim of interest in the property, and a sellers unknown amount of equity/loan/interest/taxes owed on the property.

Under 735 ILCS 5/9-211the notice may be served 1) in person; 2) above service; 3) by certified mail or, if the property is vacant by positing.Once you file the FED action, since there is a question about who is actually in the property, make sure you name the tenant and any unknown occupants as well. 

My first buy and hold.( 2 houses for 49k )   Im inheriting a tenant that has been in place for 20 years. Her rent has not been raised since 1984. She currently pays 450 a month. ( plenty to cover my mortgage -440 -...

Of course, these fine distinctions are unknown to tenants, so the flip side is operate under Innskeeper rules at the outset unless challenged:http://www.shumakerwilliams.com/overstaying-their-welcome-the-difficulty-evicting-long-term-guests/

I looked at doing a MOD build for an infill lot (also in San Diego) and the level of unknowns just didn't make sense compared to stick-built.Conceptually, I love the idea (especially for urban infill!!)

@Arty FreshPaying an unknown entity in Pakistan sounds like a high risk plan from an identity theft standpoint.

They were selling their mentorship program, different levels at 12k, 15k, 20k, and an upper level, price unknown. 180 people put in an application (this was before the prices were revealed, but I think they signed up a good 20% of the crowd, at least).I did get some good info, and made a few good contacts.

Now that it's empty, it's tempting to sell it and buy something that doesn't need to be walked through an unknown legalization process.