What I am looking for is to put together an initial letter to him ( and his wife) that lays out (the easiest way) these deals are structured.

This is just a hunch, but i think they had a big board meeting when they were nearing there target reserve levels to initiate release and it went: "well boys n girls, we will have the reserves built next week to start dumping these reo's, but know what, our lobbiests rocked and got us all the money we could ever need, and I'm loving these reserve numbers, screw it, lets invest these reserves and make MORE, and just trickle those reo's out until values make it worth our while to dump em" "but sir, what if these decaying assets start costing us, in Michigan we have to tear them down?"

I bet you can create your own better marketing documents, including pitch book and projections and everything!!

I know of some groups that specialize in these purchases if your group is looking to sell at some point.What was the intended exit strategy when the deal was initially purchased?

I'm betting over for my areas I work in and have already seen this happening.

I'm assuming that when you cold call a listing agent, they aren't going to give you the lockbox code, so you will be making your initial offer sight unseen.

I agree with James and think that your best bet is to take a few months to plan and find the best way for you to invest.

The advice everyone else has given you is great, I'm not a buy and hold investor, so I'm not even going to pretend to give you advice on that subject, just wanted to share my initial thoughts on the situation:)

But most of the time I only buy the once where the money is used for interbank lending rather than betting on movements of a certain underlying (FX, or stocks or index)Bear in mind I am based in China!

Question: will we have trouble selling to someone who intends on financing if the transaction is less than 90 days from my initial closing?