(1) Someone will pay his/her 40K IRS lien. (2) A family member of his/her can list his/her property and get 3% real estate commission. 21K (3% of 700K) is not a lot of money in Del Mar, CA or Manhattan, but it is still a decent amount in my town (3) Property owner can walk away free (Non-recourse).

Visit the NOVA RE Investors group on Bigger Pockets.

After some back and forth, we settled on $52,500 with a closing date of Mar 30.

I live in Montgomery county, and beltway traffic has got so bad I'm no longer even considering PG, DC, NOVA, although I have properties in Arlington, I'm not going to expand there.  

https://www.theguardian.com/us-news/2020/mar/31/california-rent-strike-coronavirus-eviction https://www.greeleytribune.com/news/renters-and-landlords-feel-pressure-with-potential-post-covid-19-housing-crisis/ https://www.lamag.com/citythinkblog/rent-los-angeles-covid-19/Oh yeah… and there is a mass exodus of people leaving… and don’t forget that the stay at home orders are staying with us until August as well, at the very least.

You need a business checking and savings account, similar to accounts set up for gramma and grampa's revocable trusts (banks do these all the time).I have had clients get 401Ks set up in less than a week, but Jupiter must align with Mars, Moon in the second house and all that.So, in brief, I would recommend a solo 401K with your mom as trustee, opening accounts at a local bank.

You would have to give me a non-refundable deposit and start paying rent Feb 15 (I require a full months rent to move in, so you would then owe half a month on Mar 1).But I would not hold a unit for you for a full month.

@Nova Mendoza My apologies for not responding sooner.

I'll join the next one in Feb/Mar!

There are 3 main monthly REI groups-- NSDREI in Oceanside, FIBI in Del Mar and SDCIA at the Scottish Rite Center in Mission Valley.