Its typical to put 20% down.If the property doesn't work with 100% financing (even if you can't really do that), its not a good deal.You might consider subject to or installment land contracts.

I want to get into Land lording.

All banks lend on real estate (homes, buildings, land, etc.).

Nobody has a crystal ball to identify such a precise figure, just as nobody can say what the exact bottom of the RE market will be.

I know about the land trusts and taking over the house getting the deed as I did it a few times in the late 90's early 00's.

I'm in NW Illinois Chicago-land area.

That is unless you played some land trust games, then it could be trickier.However, if they have constructively abandoned their right to foreclose, it is my understanding, they could still go after the former seller who breeched the contract.Anyway, the path of least resistance is usually better so if your buyer can refinance, do it and just move on.Also, in the future, include verbiage in your contracts when you buy to allow you to seek recovery from the seller when they do something like this later.

Tony, It all depends on the land value of the property.

They will be playing ball till 12/28...good luck and good hunting

After you have located an end buyer, is it your responsibility to submit the paperwork to the title company in order to get the ball rolling?