We will assume title is good, initially not an issue to the valuation process.I also assume the parties are not related in any other arrangement or family, which is common.What this seller is looking at is getting their money and bailing out from an expected possible foreclosure.I assume it's marketable without issues.If you can obtain a deed in lieu of foreclosure that would change the picture.Otherwise, after expenses all you get will be the payoff and costs the borrower may be be entitled to amounts paid over that amount, not the note holder.So, there is no profit in the head damage or a clean payoff transaction.Maybe 30-32k range less costs of foreclosure there, if everything makes sense and it's a legal obligation.

Lender's need to pay attention and obtaining a statement as to the intent and use of the secured property is highly advised

However, I would recommend you go to the Motley Fool website to obtain an answer and further education.

I can obtain a non-liability document for injuries signed since they are using my equipment in my property.

The first appraisal came back at, or over, sale price (I haven't obtained this appraisal yet).

The biggest barrier to obtaining many NOO loans in the beginning of REI enterprise is the DTI barrier.

I'm in the process of obtaining a RE license out here and I'll tell you the key to this market (in my eyes) is law firm relationships for pre-MLS listed properties and auctions so you can get them before they hit MLS, because once they hit MLS out here - from talking with local realtors it turns into a huge mess.

If you can truly get a feel for the "best" place to invest - nowhere near as easy as it seems, and no the answer is not simply where you can obtain the highest current cap rate (which btw would be downtown Detroit) than you would easily make up for the disadvantages of investing outside your immediate area.

The owner obtained bids from contractors the PM company normally used, and accepted one of them.

Builder's Risk is what you're looking for, is easy to obtain, and is sold in 6 or 12 month increments.