Not sure about the NON citizen part though.   

The price was non negotiable but we were able to negotiate some favorable financing terms since the owner is now our bank.

Does anybody know if it is possible to buy an individual non-performing FHA note from Quicken Loans?

Well done.Here's a strategy that will work for you.Do a cash out refinance on the non-owner occupied property using a no income verification loan. 

Typically, in the downturn, next to stall will be condos in the non-Boston communities that just went through huge conversion crazes (Salem MA, Lowell, MA, Lynnfield, MA, etc)... but it's town by town.  

Totally different thing.Most states require 30-60 days written notice of non-renewal. 

@Kyle Joseph 25% is pretty standard for non-owner occupied investment properties.  

The problem is I have too much equity in the properties because you have to do NON RECOURSE loans inside a self directed IRA LLC and the banks that I have found that will do NON RECOURSE only do loans at 50% LTV. 50% of my IRA LLC is equity that is just sitting there. 

How much is your non-mortgage debt and what is it from? 

Also, your vacancy, management, property taxes, and CapEx (non-existent) are too low.