Regardless of this, you must "manage the servicer" of the note as well as complete all business administration tasks as Chris noted above.  

@Linda WeygantIRA contributions must be made on a cash basis. 

I don't know what you see, but in most of the cities I visit, I don't see a lot of B-C being built, except for one guy in Dallas who has a few no amenity apartment.

No doubt that has been a big focus of my research and my week long visit.

All heating, HVAC, and plumbing systems must be replaced.

Someone was living in it as it was foreclosed per the city and a neighbor but they must not have had any claim to the property and let it get foreclosed.It is a large house and an easy duplex conversion so that is my current plan. 

All I can say is I'm a cash flow guy and I must be doing this all wrong.  

If this property is in your state (California), to be legally considered abandoned, you must reasonably believes that the tenant has abandoned the property AND the rent on the property must be due and unpaid for at least 14 consecutive days. 

Account Closed I use an "Add A Tenant Addendum" that states the following;Any new tenant must fill out an application and pay the application fee.

I assumed she must mean her fence.