Well, after being told by the mortgage holder (Nationstar) on the day of the auction (May 2nd) that the property was a FNMA property and that we'd have to go through them to purchase, we found out today that Nationstar did indeed take the property back post auction after all.

I think you might be the BP record holder.

Not saying that you can't buy something now there and have it work out because who knows how long things can stay overvalued (And if you're a long term holder buying with low leverage you'll do fine after a cycle or two).

You need to be listed on the policy as an additional insured and a certificate holder.

Larger financial institutions like Fidelity, Schwab, eTrade, etc. will typically respond to rollover requests and complete the entire transaction (meaning the money is received in the Solo 401k holder's bank) in 3-4 days. 

@Dmitriy FomichenkoThe write offs mentioned above happen INSIDE the account therefor not benefiting the account holder on a year basis.

We are impressed with this person's success and knowledge, know him to be a stand up guy (he has contractor background too), and see a win-win for both parties with future deals and lead exchange downstream.The funding scenario is . . .80% Hard Money with 20% Private Lender Gap Financing1st Position Loan Amount80% Hard Money for Purchase and RehabFinancial Requirement - $144,000Use of Funds - 80% Purchase and 100% RehabLender to be Recorded as 1st Position Lien HolderLender Holds Back Construction Funds and Drawn Upon as Needed.2nd Position Private Lender Loan Amount20% Private Money for Purchase and Carry CostsFinancial Requirement - $35,000Use of Funds - 20% Purchase, Closing and Carry Costs for 1st Position LoanTermsLender to be recorded as 2nd position lien holder on title filing12-month balloon note with no prepayment penalty2 points and 10% annualized interestPrincipal, Points and Interest to be repaid at retail sale of the propertyMy stepson is well aware his 2nd position can be extinguished if things go south.  

Add the lien holder's debt.Then, politically, show them you vision for the building and how your plan will help revitalize  the neighborhood. 

Do I contact the lien holder of the #1 and make an offer there?

I am out of state and I have my tenants deposit into my Wells Fargo account.Chase has just changed their policy and they will no longer allow a non-account holder deposit money into their accounts.