This in effect gives you a no risk short term option to purchase.Once you have an executed purchase contract, and assuming money for a suitable down payment, you become a serious player in the eyes of a lender.

Come back to the states having a plan and be ready to execute.

Congrats, great to have a plan and execute on it. 

@Andrew Ager When executing any real estate investing strategy you either need to have the money or access to it.

Once you get it back, you sign it and consider it executed.

Sorry for the ignorance but I am new to this and trying hard to get the momentum rolling while gathering information and executing at the same time.

The announcement says that the sale is in execution of a deed of trust recorded in 2007 for 274K.

First, you can choose between (in order of ascending execution risk but also ascending order of projected return) loaning on acquisitions (net maybe 6 to 7%), light to heavy rehab (maybe 7-9%) and construction (maybe 9-12%).

Have multiple exit strategies (and be prepared to execute on them).

After walking through the building 5 different times and doing some research online, I feel this is an Ideal location for a co-working space along with a few private executive offices.