Granted, there are variables that would influence and subsequently guide each member towards a different strategy but if there's some basic advice you can offer that would be great.  

Your purchase will be closed first, then if you're getting a rehab loan, that is a subsequent transaction in another settlement.

The one who holds the oldest lien has the advantage of foreclosing earlier than subsequent lien holders.  

I have 7 years of PM experience, and 3 years of experience prior to that as a Enterprise Resource Planning (ERP) Consultant focused on supply chain and financial module implementations for corporate enterprises.

The $10k will be used for the Earnest Money Deposit, and subsequent closing costs.

However most businesses need additional trade references that will grant credit and report to the credit agencies.Some helpful business sites on building business credit: * Wells Fargo Small Business - Loans and Lines - Comparison Chart * Report on the Role and Function of Credit Rating Agencies * FTC FACTS * D&B Small Business SolutionsSome of my students have use this site with some luck (I know nothing about the service)Business cash advance - http://www.amerimerchantcapital.comSome other help tools * National Business Association http://www.nationalbusiness.org * Small Business Information Center/Research http://sbdcnet.utsa.edu/SBIC/industry.htm * Urban Redevelopment Authority http://www.ura.gov.sg/ * Black Enterprise Online http://www.blackenterprise.com * National Black Business Trade Association http://www.nbbta.org/ * National Black Chamber of Commerce Inc. http://www.nationalbcc.org * Small Business Information Center/Franchise http://sbdcnet.utsa.edu/SBIC/franchise.htm * Unites States Hispanic Chamber of Commerce http://www.ushcc.com * KeyBank's Website Women Focus Section http://www.key.com/women * National Education Center for Women in Busines http://www.e-magnify.com

The fundamental guiding principle, which guides the initial purchase and all subsequent purchases is what has made Warren Buffett so successful and what you can use in real estate as a basic foundation to your analyses and purchasing strategy.

The only job of the Trustee is to get the best price for their client who is the Lien holder foreclosing on the property and then subsequently complete the transaction by collecting funds and filing the foreclosure deedThe Trustee has zero responsibility to make sure bidders aren't colluding(other than verifying funds) or ensuring the title is clear 

There is a five year ownership rule that applies to investment property initially acquired in a 1031 exchange that was subsequently converted to a primary residence. 

isn't realistic.Of course, the bank could use your offer to define a higher value for the property and subsequently not accept the lower offer based on the value, but that's completely different than the bank accepting your offer for the seller.