If I were you I would do everything I could to find the owner of the abandoned unit and buy it, then you have control of the entire set of row houses.I would start with tax records, to find out who is listed as owner.

I'd advise this type of organization to anyone thinking of setting up a management company.

If I can get somebody down to a price that seems like a good deal, I'll add that property to a list of properties which I'll take with me to REI-organization meetings and other networking parties and try to see if somebody might be interested.As far as owner financing goes: It kinda sounds like I need to find somebody who's having a hard time selling their house.

The specific wording I've seen for BoA REOs (when sold to investors) is:"Grantee(s)/purchaser(s) of the property may not re-sell/record an additional conveyance document/or otherwise transfer title to the property within 60 days from Grantor's execution of this Deed."

I have access to the clerk of court records and looked under lis pendis and nothing there either.

Does anyone know how this election is recorded somewhere?

Oz:I can't offer any information on the listed organizations.

In essence, there are 2 separate transactions, but you are buying from the investor, rather than the owner of current record, so your offer will not be submitted to the short selling lender for approval.

To facilitate commerce, certain organizations combined efforts to create a set of laws that would represent "ideal" legislation to govern commercial transactions.

Unless it's a corporate tenant with a long term proven track record that would mean nothing to me as an investor.The reason is businesses fail everyday.Even if the business has thrived for the last few years they might have been only going out of the home or a small space.Now they are going bigger in space and they may or may not grow as expected and the rent might take them down.They could be down sizing in space and carrying a ton of debt and fixing to go under.So as an investor the track record and seasoning and performance of the lease is critical when doing an income approach.You also have to analyze if rents are dropping in the area.Even if the tenant has been there awhile they might be jumping ship for a lower rate elsewhere and the lease is coming up soon.I think FSBO really isn't going to get you a higher price.The agent bringing a buyer will now have to do 2 jobs with the buyer and the seller for one fee.Also the buyer will see you are saving on the listing commission compared to other properties listed for sale and will reduce the offer to you.It's a classic mistake of the seller thinking they are saving the listing commission and the buyer reducing in the offer.