I want to understand how many properties are bid on by third parties and how many revert to lenders.

Also post into local FB groups the specifics of your sale and you will have people reach out if your deal makes sense.I hope that helps.

I want the meet and potatoes of the deal, and I want to understand who you are as a person and investor. 

Make sure you consult an accountant that understands current real estate tax law to evaluate the consequences of both scenarios.Everything else Jaron said is 100% accurate and this decision depends on what kind of investor you want to be. 

Also, if you can do a renovation and pull money out to pay it off, I think that would be ideal.Another idea would be to utilize other people's money for the renovation and then pay them back whatever rate they desire through a simply interest note.How is the STR doing in the Smokies? 

Now I do understand the DTI will be affected but now I have another question for you— the property will be bought under an LLC, does this change the DTI in anyway? 

My assistant or I via Googling/people search sites, plus we use Batchleads, plus Fred down in FL (who used to be a private detective) on the hard-to-find ones........

Additionally, you can do a cost segregation of the property and take bonus depreciation creating additional tax savings.Beyond short term rentals, I think buying a triplex or property every two years as a primary residence and then renting out the unit you lived in and repeating this every two years is one of the best ways to accumulate a portfolio of properties with little down with property tax savings while you live in the property.Then, it will be surprising how quickly the equity builds up as other people pay for your asset that you then can pull equity out and buy a larger apartment building after you have learned about property management from owning the smaller rental properties.To Your Success!

Just be transparent about your policies, and hopefully, they'll understand your position.

I called a real estate attorney today based on a Google search, and I got an earful about how Subject To was not possible, the bank would call the loan due, I need to have 'very deep pockets', etc etc etc.I know it's possible and there are people doing these types of deals.