Just make sure he files/records a Warranty Deed to continue the chain of title.

So I started the foreclosure process and had to continue making my mortgage payment at the time .

Generally, (NOT an accountant) when selling a home that is not owner occupied for 2 of the last 5 years (doesn't have to be continuous) you will be subject to taxes on the sale.

Thanks for your continued insight and support!

If the market continues to appreciate that will be an added bonus.

My CPA and another tax guy both told me I could sell the replacement property in a matter of months after rehab IF the investment was continued..let's say rolled into a duplex or a quad.

I have already learned a great deal here and hope to continue learning.

These liens are really judgments that will continue to exist but will not be attached to this property any more if there is a foreclosure.You can sometimes get a very steep discount on such liens.

Continue reading so you can learn about the various agreements that can be used and when to use them.

If you know their position there is no need to continue to read what they post as they do not change their view.