Sorry to sound cynical, I typically don't like coming off that way, but I have been to the national guru "shows" and have been left wanting.Next time when a snack is offered, I will jump on it, too bad they ran out, I might have been able to hang in there otherwise, but I did not want to miss anything that was being said.

Title to be conveyed to the Tenant/Buyer and/or assigns.(19)CLOSING:The deed shall be delivered and the purchase money shall be paid at the lending institutions, or other office, of the Tenant/Buyer's choice, no later than sixty (60) days after notification to the Landlord/Seller of the Tenant/Buyer's exercise of the option.(20)COSTS AND PRORATIONS:There shall be prorated between the Landlord/Seller and the Tenant/Buyer, as of date of closing, the following items: (a) All real estate taxes and assessments, (b) Interest on encumbrances assumed or taken over by Tenant/Buyer with the Tenant/Buyer having responsibility for such items as follows:Landlord/Seller will pay:Tenant/Buyer will pay:____________________________________________________________________________(21)INSURANCE: While this option shall remain in effect and up until the time of closing, the Landlord/Seller shall maintain fire and extended coverage upon the property, and in the event of loss or destruction in whole or in part of said property, the Tenant/Buyer shall have the option to proceed with the closing and accept the insurance proceeds for said damage, or to declare this Lease/Option null and void, releasing both parties from any obligations hereunder, except for the return of reimbursable expenses previously paid by Tenant/Buyer which amounts shall become immediately due and payable from the insurance proceeds.

The first lien holder, if an institutional bank, will likely bid up to the amount of the loan in default.

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It is geographically situated on a piece of land that is not only coastal, but easily accessible to one of the largest cities in the nation.

From an article on National Real Estate Investor Online about crowdfunding in real estate, some companies are getting their feet wet this new area of financing.

We have been stuck before by Nationals.

Great questions, keep them coming BP Nation.

@Tyler Dunlap now you just revealed one of the perils of asking questions about what to expect to pay for properties to a national audience. 

I found a mortgage broker online (lending411) as I was annoyed with my national bank (which I found is being sued by the govt!)