But I have a colleague who is a business coach; while speaking with him about a mutual client, I thought about how if I owned the business (a body and paint shop), I could use my funds to buy a building as well as inject some much needed business sense into the business.

I'm merely proposing a solution to them as a way of helping their clients dispose of a financially or physically distressed in a somewhat elegant fashion.Below is the body of the letter. 

In posts like this I've found that I'm in the minority with this opinion but:I don't care what my tenants do as long as the property is taken care of, rent is on time, and there are no dead bodies in the unit.Worst thing you could have done is what you did.

Assuming you move forward because the underwriting checks out then you need to secure financing.Securing financing is easier said than done, and unless you have years of experience, successful projects and a fat net worth you most likely will not get financing from traditional banks or get rates that slaughter the economics of the project.

Keywords don't seem to work on titles so make sure it's in the body.

Suggest talking to a title attorney and the auctioning body.

You can most likely live for free or live for half of what it would cost for rent all while your tenants are paying down your mortgage, you are getting fat tax returns, and you have an asset that appreciates dramatically, especially when levered.

@Eric Oneill If you're holding fat stacks and staring at the Poker table it's smart to learn the game before you buy in.

I reinvested proceeds from the rent collected from the first tenant, to spruce up the second bedroom (I call it the nature room) I added a full length body mirror, study desk, a few various wall decors, updated the listing pics (didn’t get to put in service the new comforter and pillows, since I’m still waiting on them to be delivered) changed two small details in my outreach marketing message, and it made all the difference in response rate from the female demographic; since the majority of travel nurses are females, I realized they would not feel safe/confident in booking from, who they presume, is a single male, so I included a profile picture of my gf and I.

I reinvested proceeds from the rent collected from the first tenant, to spruce up the second bedroom (I call it the nature room) I added a full length body mirror, study desk, a few various wall decors, updated the listing pics (didn’t get to put in service the new comforter and pillows, since I’m still waiting on them to be delivered) changed two small details in my outreach marketing message, and it made all the difference in response rate from the female demographic; since the majority of travel nurses are females, I realized they would not feel safe/confident in booking from, who they presume, is a single male, so I included a profile picture of my gf and I.