If they want nothing then you know your profit may come from negotiations with the lien holders.

A judgment holder, in an effort to get paid and not get wiped out by the foreclosure, stepped in and became Admin. of the decedent's estate and sold the property.Does anyone have any ideas?

http://www.biggerpockets.com/forums/52/topics/59735-vacation-rentalshttp://www.biggerpockets.com/forums/52/topics/73817-any-long-term-buy-and-holders-using-vacation-rentalshttp://www.biggerpockets.com/forums/48/topics/12974-vacation-rentalshttp://www.biggerpockets.com/forums/52/topics/70618-vacation-property-rental-agreementhttp://www.biggerpockets.com/forums/12/topics/18055-rules-of-thumb-for-vacation-rental-propertieshttp://www.biggerpockets.com/forums/81/topics/13333-vacation-rentals-in-hot-vacation-spotshttp://www.biggerpockets.com/forums/88/topics/63248-your-advice-please-landlordshttp://www.biggerpockets.com/forums/52/topics/68936-increasing-occupancy-for-vacation-rentalshttp://www.biggerpockets.com/forums/52/topics/74934-vacation-property-rental-analysishttp://www.biggerpockets.com/forums/52/topics/67450-vacation-property-rentalhttp://www.biggerpockets.com/forums/61/topics/73923-vacation-rentalsThere were more than that where I looked ...

As a note holder you have only a financial interest in the property to the extent of costs of securing the property and the remaining amounts owed, that is a collateral interest.

Any record you make will not be accepted, since the holder of a note has an interest in it being paid off.

Also, I saw in the IRS instructions that you do not need to send a 1099 if you make your payment with Visa, MasterCard, PayPal, or other payment networks.

Any seller seconds are "de facto equity" for the investor/principal because in theory it would satisfy the debt holder's requirements to procure additional debt.

This can include a reduced commission, only partial pmt.s to junior lien holders, etc.

Building new would be better than trying to piece in improvements to a major fire damaged building.I am assuming there is major damage.A property like that should have been insured, so the owner and any mortgage holder should have been covered, if it wasn't they deserve to lose it IMO. :)

Try reaching out to your servicer first and asking them to formally ask the holder of your mortgage note for a discount.