Buy there and you basically have an Airbnb near the "action" in Denver.ArvadaIn late 2020, Arvada passed a law to allow for short-term rentals in non-owner occupied properties.

I know people who handle real estate rentals and flipping houses from abroad and that is way more time consuming than notes.. 

@Gary Dezoysa  Everyone is correct on not contacting the borrower but there are actions you CAN do.Order a title report so you understand if there are any other liens on the property and their position.  

I've had problems with both in rentals-with tile you have to watch the grout and if you are in an area with hard water, cleaning them can be more time consuming. 

Is there any action that I should take now? 

If the one brother moves out, you likely aren't seeing a dime from him without court action. 2.

Hopefully the situation can be remedied sooner than later with the appropriate legal action.

I would like to take action asap.This is what I've researched so far to get started:Look for potential markets by studying the macro economics.Research neighborhoods.

There are so many unknowns here that carry big dollar amounts (rehab needed) and aggravation (evicting tenants that have probably been living rent free while the foreclosure process has been in action).My guess, is you're going to "get what you paid for"....and then have to pay a lot more. 

Another (downtown) gets more AIR about 75/25, probably because the younger folks want to be close to the 'action'.....