@Christopher Griffith nothing. banks will only let you pull out equity at 80% LTV generally speaking.

How do I word the fact that I will be entitled to november and december rent?

Speak with contractors, other wholesalers, agents, call FSBO and For Rent Signs.

Having said that, I think it would be very wise to speak with a title rep in detail about the property and the implications of the auction.

Mezzanine debt typically has a higher rate of return than senior debt but lower than equity.Preferred Equity is perhaps the hardest portion of the capital stack to speak about generally because it’s, for better and worse, very flexible.

I can speak to going through this with a two family and it is comparable property they look at and they will usually go further away and use less comparable properties. 

So for the last two years, I have been speaking with Realtors, Brokers and Mortgage Brokers.

I look forward to speaking with you again!

Originally posted by @Dan Wallace:i would be curious to hear if the owners are receptive or if they are getting inundated with inquiries.DanRecently after speaking to a homeowner we first contacted 8 months earlier they called us again and made the statment "we are done paying the attorney for our chapter 13" we want out and negotiated and lease option equity purchase with them.  

Hi everyone,I currently own 2 properties in London and now live in Los Angeles.After speaking to friends in Detroit they have really got me going on investigating in buying a house there to keep and sell later for profit.They are recommending Hamtramck now in late 2015 and they could take care of the house for me there.What's your take on the community.