Do you know what the nature of the suit is?

If you are, most states have a method of for "bonding them off" by placing cash for say 110% of the lien in a court registry.  

Here is an example:Now, I have a method to look up the address of the property in foreclosure by searching by the owner name. 

If you want to get the email just send me a message with your email address.We're on our 21st meetup and there's always a good mix of investors, from veterans to newbies and a variety of investment methods and locations, even some international visitors on occasion.

Ben has some very good points about the nature of the property which sounds very similar to what you have under contract.Now having said all that, you have to make the call and live with it.

My profile below may seem like a dream but it's all true and my dilemma is too many optons and personal uncertainty about the best method.

Great question - because of the nature of his business equipment, I'd rather not have the equipment and in the unfortunate event he defaults, it makes the most sense for another to remove it.  

I have a background in product marketing, and have some methods I feel are not fully leveraged in RE that will convert well.  

Their property manager is recommending that they do a cash-out refinance to (a) increase their income and (b) reduce their equity in the property to reduce exposure in case of a natural disaster, etc.  

You can obviously search Google, but a method I've used before in addition to my network is to visit construction suppliers (companies like ORCO Block) who supply builders with construction materials.