He said Jackie had called him to say there would be a delay in getting him his money.

This allows us to market the projects in a responsible manner and minimize risk associated with the inevitable public release of information related to these types of deals.

You would probably have to go to a portfolio lender (one that keeps loans in-house versus selling them off to Fannie/Freddie) to get something sooner.The exception is the delayed financing rule which allows you to get a mortgage on the purchase price of the home if you do it within the first 6 months.

For you this lets you sell the house, have it staged, and have the tenant help cover and minimize the loss until the sale.

The property is close to train tracks, so some higher quality, sound minimizing windows will really help the rentablity of the property.3.

But don't use it as a delay technique for not starting REI now.

There are ways to mitigate your exposure, not every house under 30k is in a bad neighborhood (hello, Columbus OH), and there are a million ways to minimize your risks in these neighborhoods.

What about all the other stuff the realtor said - the delay for inspection, and you paying the closing costs?

When a loan goes to auction, a minimal bid is set by the Mortgagee usually through the Mortgage Servicing Company through the Foreclosing Attorney at the county.

You would need to inquire about obtaining title insurance from a company and ensure that you can do as one removed from the tax sale with minimal issue.