I typically use this strategy for my clients who are able to deduct rental activities as passive investments and the accelerated deprecation does not put them over the threshold for the passive loss limitations.

The bank was going to foreclose but stopped because the owner is active military.

If urban to suburban over 1 mile is not an accurate comp.In fact when I do BPO's for banks and mills they want usually within 3 miles for rural and sometimes up to 5 mile radius or less.Suburban usually 1/2 mile or less but up to 1 mile in certain circumstances.In Urban core they want 1/4 mile or less.The BPO companies and their clients feel even if a comp doesn't match up that's close they would rather have me make adjustments than go to far out of area where they believe the comps do not match to the subject.So I would re-look closely at comps and try to find better ones that are closer.Example if you can only find solds 1 mile away for 180,000 but no solds near you but actives for 150,000 then the 150,000 or less carries much more weight.The buyers are giving with the data that they will choose to pay more for a similar property in a nicer area and pass over the actives where you are willing to purchase.

I have seen numerous smaller banks post their foreclosures on their own sites.

Unfortunately there are three different Home Depots I frequent and I'm not sure how to set a reminder that will activate when I get to any one of them.

Whichever you choose, I suggest you start by getting educated in that field starting right here on BP, then perhaps with an experienced investor in your area who is actively and successfully doing it!

For others, it would seem helpful to talk to being tied into a network of note brokers, having a sizable group of other active lenders, etc., though with no assurance of course that they'll recapture their investment at par.2.

ANY agent or associate broker real estate activity has to be ran through the principal brokerage.At least it's this way in my state.You will get companies who try to not disclose involvement or only say they have a small involvement in an LLC etc.The bottom line is there MUST be disclosure that the agent has an interest in the group wholesaling.In our state the reason is we must disclose to the seller we have an interest because we are considered more well trained in negotiations than a traditional buyer.Also you can be disclosing an undisclosed fiduciary duty to another party in the transaction the seller doesn't know about.Example if the buyer is my family,business partner etc.

I have numerous years of tax return rental income so substantiating it isn't an issue and they are seasoned except the two I got this year.  

I would put his legal entity on title as well and do whatever the lawyer instructs you to do to make sure that he is somewhat active to avoid securities problems.