This could work out alright, but I wouldn't count on this going smoothly every 2 years like clockwork.3.

I won't even go to places to eat once I find my tenant works there out of fear...not that they did anything, but they will "gift" you something they don't own and then also expect the favor back in rents.....it just doesn't work out.

If it is something where you are wanting someone to look over the real estate paper work, and it is a good deal, work out a deal with your agent (or another agent) to pay a small fee for their time to look over documents.  

Now, I have had success in getting a workout completed with many of the NPLs I purchase, but these are cherry-picked and well researched before buying. 

Hey @Kady Daniels, how did this work out?

Management will be very intensive so I'd factor in an additional cost for vacancy (higher than normal), evictions etc. also maintenance will be an issue as well.

This may work out well for the individual since you are discussing buy/fix/hold properties.

Seller 's agent at that point basically told me to not waste their time if the term doesn't work out.

As others noted, this strategy can be management intensive and introduces additional complexity. 

John out this way they send it to the court with an interpleader but I suspect this will work out..its 1k and now that our bp member has some ammo i suspect there will be a win win...