Sometimes I see this to an extreme where the whole lower length of the wall is caving in, and in some properties its not as bad.

To buy more time, there must be an agreement to purchase that the lender's foreclosure attorney will consider arm's length and sufficient to pay the lender, and even then the attorney might still want to see some payment before that auction (and it might even need to be as much as the reinstatement amount for the loan).

Be sure to have a custodian, and be sure to keep all transactions at arms length.

I forfeited by commission (since I was buyer and buyer's agent and needed arms length) so the listing agent snagged my commission and when the BPO got assigned to an agent in her office, she spilled the beans.

@Ken Min yes it is true that 95% of the people reading Brian's post will not make it all the way thru because of the length  , but if they would , read it all the way thru & print it off & reread it atleast once a week , they would soon realize that Brian is sharing with us on how to succeed at anything in life not just REI.  

There can be no direct or indirect benefit between a plan and a disqualified party.A self-directed IRA can invest in real estate and that can be a powerful path for wealth building, but the transactions have to be 100% exclusively for the benefit of the plan at "arm's length".

The ability to document your exchange could be all kinds of things - current and past practice, stated business model, actual length of hold, actual income production from productive use, correspondance with professionals and colleagues etc.Here's your statement.  

We then built out an algorithm based on the year and a half of historical data to determine which of the Us (unavailable) are Rs (reservation) and which are B (blocked).Our model takes into account 16 different criteria picked up by looking at the historical data set (the length of the booking, the booking lead time, the historical performance of the property) to make that determination.

Mortgage Rate 5.00% Length of Mortgage in years 30 Monthly Mortgage payment $724.71 Taxes $ 180.25 Sewer and Water (paid by tenant) $ - Trash (paid by tenant) $ - Heat/Utilities (paid by tenant) $ - HOA (paid by tenant) $ - Cap Ex and Ops $ 200.00 Insurance $ 125.00 Mgmt Fee $ 170.00 Vacancy $ 136.00 Total Expenses $1,535.96 Unit 1 $ 1,700.00 Total Revenue $ 1,700.00   Cashflow/month $ 164.04 Cashflow/year $ 1,968.49 Cash on Cash Return 3.90%

It will need a support beam running the length of the house front-to-back, and possibly a new roof.