I have been spending time studying materials on BP to know more about real estate investing.I plan to invest  in Nigeria and Uae but there are no post ,blogs or articles on BP that i have read so far that talks extensively or give strategies based on this two markets .So the challenge I have is that most of the post on Bp talking about stragies of acquiring a property and rentals does not really tally with the Nigerian market.

Bank regulations simply would not allow FDIC-insured money to be invested in such a poor credit risk but the beneficiaries of the deceased man's mortgage deserved payment so they sold the non-performing mortgage to a Boise " Private Note Purchaser" for a small fraction of its face value because the heirs lived in a small community and did not want the infamy of being the ogres who would compound the misery of an unlucky family by seizing the home through foreclosure after the occupants had suffered the loss of their son to childhood disease.The Boise opportunist had no such inhibitions.  

It's a stretch but maybe they are very negotiable as not many people would be interested

My thinking is that this would help me do some more extensive flips here in the SF Bay area since properties are VERY expensive.

Their application is extremely extensive (seemingly).

I also do plan on going into 2 or maybe even 3 properties with this one transaction, but I also don't want to stretch myself to thin.

I am thinking of purchasing it at his asking price, then lease-optioning it to another tenant-buyer with a non-refundable down payment of 40K with the option coming due within 3 years (maybe up to 5, with extensions).  

I share the properties between the providers and can gauge their performance and price.The responses are great and they cover items within the infrastructure such as AC/heater,electrical, plumbing, garage door etc.If there is anything uncovered that needs to be fixed, my broker connects me with local handy men or professionals to take care of those issues.One of the providers, https://www.ahs.com/ charges $75 per call. 

@Bill Gulley has written extensively about Subject to existing financing if the loan is calledIt has to be a wonderful house to do sub 2Be prepared to get alternative financing if the loan  gets calledExit is usually renting or lease to own

Problem was the tenants never stayed long enough for the investment to truly perform like it should.