It would take 3 or 4 years of heavy payments on that 2nd before it was gone and I started seeing positive cashflow off the rental.If I had $20k in cash laying around to use as a DP on the new house, this would be pretty easy.

I have been throwing this around for a while now and just don't know the answer.If you could purchase a home, even at 100% financing, and it would give you positive cash flow, money up front, money on the back end, and you did not have to do anything.

This recession will only be around for maybe another two to four years conservatively, which means you want to be owning the property outright rather than vying for 'first positions'.

I have always worked in professional type positions - banking, consulting, selling - and dress relatively formally.

And do not just say "real estate investor" be absolutely positively sure to say " multi millionaire...".

Would it be worth anything to me (in terms of strategy or legal position) to try to purchase the second lien at a discount?

I'd love for a foreign entity to have 1st lien position on my property.

I understand the bank has to protect their position at some point but, any money we have had access to, has gone to the care of our daughter."

They are so happy that you have changed what was an eyesore on their block.You are doing something positive for the community.

That's the specific job of a licensed agent and if you don't have one, you're in a dangerous position.