The bank will typically just buy it at the auction if nobody is willing to bid close to market value.Then they'll list it as an REO which opens it up to potential owner-occupants as well as investors.They know what the house is worth and they know we're in a sellers market right now.Unless you're in an area with tons of REO's sitting around it's highly unlikely they will just unload it.

Usually, an open and honest conversation, along with the moxie to enforce the terms of the rental agreement, works.

I am open to the idea and have some thoughts on how to structure it, but would obviously like to run it by a lawyer to make sure I'm not missing anything.

Our insurance companies both opened a case.

I’m not sure how far into the weeds any of you have gotten on the 203K Loan, but in the spirit of sharing knowledge, I started a discussion on the subject here: The 203K Loan - Open Discussion.

The idea is to secure a HELOC on their home (I'm open to other suggestions) in order to invest in income properties out of state.  

If they cut a "Cash for key deal" with occupants they will open it up for inside access. 

I said I would be open to it.I need to talk it over with a lawyer of course, but before I do I thought I'd bounce the idea off of everyone here first and get my ducks in a row.Here is how I am thinking of doing it....

I know there are many pros and cons to every strategy, and we are open to all suggestions and strategies, but through the research we have done we seem to find these three to be the most promising when starting out.

House door is open, work gloves were on the table.