Lots of layers to all that stuff down there man.

Good communication is already vital to a relationship and will be important here.

Those skills are vital to your success as an adult- even if you think you have those skills, trust me, you don't.

Uninformed investors often buy loans with vital originals documents missing.  

I agree having a team in place is vital, I believe we have a pretty good one in place now.Kerry.

I believe the Deed of Trust going to the Trustee Sale is in second position and was maxed out by the owner.The other layer of complication on this deal is that the owner is actually deceased and obtained the property originally from his father when his father passed away.

That said, I've been able to be my own Designated Broker for 18 years now and I have never chosen to be "on my own" for many reasons, including a layer of liability protection. 

This same department has cited us for $250 lawn care for an abandoned property next door to another rental we own & again we go in to explain it with a survey & again we have to go to housing court clerk to straighten it out.In another town we have been inspected & cited mid-winter for gutters damaged by ice yet the home across the road has had a torn tarp with multiple (torn shredded) layers on its roof for 5 years.

However, I do know that the tenant was caring for small children during her stay which would have resulted in a lot of baths for kids and lots of overflowing or splashing water from the tub.I'm lucky the sub floor is two layers with a 3/8" top layer that I can tear off.

Great post, enjoyed the detail and the mulitiple layers of the deal and exit strategies.