Also, since it's in a nice area, if the numbers are right and you work with the city building code enforcement department, this might actually be an awesome deal.

When the Treasury Department had to bail out Fannie Mae and Freddie Mac a part of that agreement was to wind the two agencies down.

These are limitations on how close you can build to property lines.Then you have to come up with a plan and get it approved by the building department.

As a partner in a loss mitigation firm we primarily facilitate a large volume of short sales for agents and act as a back end short sale department for brokerages among other things.

If its a REO / bank-owned property then you can find an agent that is well versed in REOs or contact the asset management department of the bank to find out the agent that they use.Kudos,Mary  

Depending on your city/area you may have such data available from the local police department or the sheriff's department.

You mentioned "FDIC risks", bank ratings are classified, only regulators and a hand full of bankers really know what issues a bank may have, the Board of Directors, President, maybe the Executive Sr, Vice President, the compliance officer/folks and key department heads. 

- also look at small local banks or commercial lending departments. 

Depending on your city/area you may have such data available from the local police department or the sheriff's department.

This area is not one that you can get away with slacking in that department