Sounds like you have the right idea about turning your cash flow into accelerated paydown, but also a realistic idea of how long it will take you to get the ball really rolling given your savings potential. 

Investment Info:

Single-family residence buy & hold investment in Brooklyn.

Purchase price: $17,200

Cash invested: $25,000

2bed, 2bath, Row Townhouse

What made you interested in investi...

How you going to fund this... 60-80k house likely going to rent 500-800 mo maybe you'll get an odd ball one at 900. 

When you are behind the ball as you are, Dave Ramsey is a good guy to follow.

I ask this question because I've got a strategic curve ball i'd like to toss at all of you.

Certain hot markets (like Santorini) have a pretty tough barrier to entry –– I've been tossing out respectable offers to try and keep this going ball rolling here, but big money has already moved in and locals aren't as easily bought as they were even 5 years ago.

I would send out the demand letter immediately to get ball rolling on foreclosure versus waiting.

I have a couple of agent connections so I will reach out to them and see if I can get the ball rolling to gather up the correct information.

Someone, either real estate agent or lawyer, dropped the ball on this one and unfortunately for you looking for a legal loop hole is nothig more than a wild shot at the moon in this case. 

Congratulations on doing something and getting the ball moving!