:) I also have an amazing, local lender connection that offers hard money, DSCR, and other investment loans.

So, many have to be pushed into allowing them and then have "memory problems" or "forget" to tell the other occupants.This is the NUMBER ONE REASON for no showings until accepted offer.

You can't foreclose because you don't have any legal means to foreclose.

This is a great forum with very knowledgeable members that will help to guide you in the right direction.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

A lot of sellers who offer this kind of deal know full well that the tenant is VERY unlikely to correct their situation and be able to get a loan to close the deal even 2 years later.

Any suggestions on how to legally put Damage Deposits into a CD to gain interest? 

Can cover legal fees if I need to evict. etc....

Many markets outside of Orange County and out of state offer investment properties between $100K-$200K. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

The timeframe can also be influenced by whether or not the homeowner has legal representation.