Always helpful to break up into paragraphs.For starters, Bank Oened is a term usually reserved for an REO property; one that has reverted to a lender after foreclosure has occurred.What you have is a pre-probate situation in risk of foreclosure.POA is only good as a proxy for passing title during the lifetime of record owner and most title companies want a POA for a specific property transaction. 

This means that each owner is a shareholder and subleases their respective unit from the corporation (does not own their unit specifically).  

Specifically, a brother of mine is excited to help immediately (which is a huge help for me getting started) but I want to make sure the boundaries and responsibilities of each of us are clear.

It all depends on the specific asset.

If you are a flipper looking for your next project, or buy and hold investor, please message me so I can learn the specifics of your investing business.I am a licensed Broker based in Carlsbad, and serve the surrounding communities of Oceanside, Vista, San Marcos, Escondido and others. 

I found many are very area specific (they may only lend in one county of the state), but they also know the area very well and can make decisions quickly.The best advantage is that the rates are much lower than private or HML, and it's only one closing.  

Account Closed feel free to send me a pm and I'd be glad to discuss your specific matter with you offline.

Maybe it's state specific where you are doing licensed work without a license that opens you up to surrogate on? 

I should specificity that I'm looking to buy another foreclosure that I can fix up and either sell, rent, or possibly move into. 

This is obviously location and property specific, but we're working with partial numbers so far...let's assume you'd want to stay in the cabin on vacation:)  If we find a place for $300k with 25% down at 5% interest, conduct $50k of value-add rehab...renting it 12 weeks/year breaks the project even on a cash-flow basis incorporating all costs.