Do not transfer ownership to anyone in a shady deal like this.  

True that currently, my schedule will not permit me to be personally involved in any sort of rehab or similar pursuits, but it (likely) won't always be true and ownership is simply something that I'm passionate about. 

I'm looking at my first 7-unit deal & if it even comes to fruition, I have a PL lined up to put down the down pymt in return for an interest rate & 1/2 ownership.

To be honest, even though I'm only a renter, I think I may know a bit more about land ownership than my landlord in some capacity.

Before deciding to just let the bank foreclose, I stepped in and offered to assume ownership of the property as an investment. 

And it's not because i'm any good at my job, just because the rules allow me to do so.Death of all obligors - Can file NOD provided there are no legitimate successors prior to 120 days.Loan made to a non natural entity - Can file the NOD without the 120 day ruleIlegal transfer of ownership - Can exempt you from the 120 day rule.Senior or subordinate lien holder is already in foreclosure, lien holder can join and file NOD prior to 120 even if their loan is current.

Like a certain type of ownership?

Since ocwen refuses too talk to them, is there anything I can do to take ownership of this home?

And, if the owner never accepts another offer on a property with a FROR, there is no obligation on the owner's part to even offer the property for sale, at any price.There are no ownership rights or interests in title with a FROR. 

The one downside is no doorside parking, however the city put in a new parking garage literally steps across the street so parking would not be an issue.The building I've been investigating is 11 stories, has 4 or 5 owners not paying their share of electric, maintenance fees etc, and all floors have different owners except one owner owns 2 floors which happen to be for sale -- I've noticed the owner (of the 2 floors for sale) recently had posts up trying to lease the office space - (crappy ad) and I've also noticed he tried to auction the floors (sale didnt go through) and he's also had liens filed on him by the condo association for not paying his share of the bills.My thought was to find an outside investor or do this myself (floors could be had cheap) build an alliance with the floor owners who are paying their share and wrestle control from the non conforming owners, then reform the structure of the ownership of the building where it could be sold in whole again, hence creating value.I'm very familiar with the building and know my city backwards and forwards, connections etc - think this building has had some horrendous marketing done for the office space, (no website, brokers in town not wanting to steer clients to this building etc)   I definitely think this place could be turned around and once you pay the specials off (about $39k per floor) rents of $7-9 a sq ft (full service) would cash flow nicely - not to mention the upside one has if partnering with the other owners and changing the ownership structure.Maintenance wise I believe one big complaint is the elevators (2 of them plus a freight elevator I believe) -- One sounds like it needs serious work.