Forget about the lease/option aspect of the deal for a moment and just consider how you would do a straight out sale.

I would argue though, that unlike Japan(although our economy is stagnate at the moment) our demographic is entirely different.

If right at the moment you have neither how do you make them go together at the same time so you will have a renter at time of approval?

Also, I'm assuming you DO have an interest in the property at the moment you facilitate a potential sale and you hand off the contact information.

I am blanking at the moment, can someone tell me what are the exit strategies when buying a delinquent lien in second position?

depending on your state you may need to file for a fictitious name in order to do a DBA.EXAMPLE:if i want to DBA 'lock and roll locksmithing' then i would need to file for a fict name.joshua green dba lock and roll locksmithing.IF my business name is going to be 'josh green's lock and roll locksmithing' then because my name is in the name of the biz, i would not need to file for fict name.NOW, it can get more complicated. i am assuming u are talking about you DBA (sole prop) and not a corp or llc dba. you can also have an llc dba xxxxx. that my friend is for another day :)you will ofcourse want to weigh the risks and benefits of both. basically though to answer your question: you can file for either in FL online in the matter of moments and it will be effective immediately and on the system within 24-48 hours.

It is not livable at the moment and will require 25k in repairs (I have tried to overestimate).

At that moment, the check is to be sent to the seller's realtor.

Do you already have good reserves of at least 6 months' living expenses, or is the 10k your life savings at the moment?

Also perhaps you might want to learn about foreclosures if the area is really that poor at the moment.