I also felt a little angry (and embarrassed) as I know that the only thing that stopped us from being in a better position today was the total lack of competent leadership, not a lack of resources or scientific know-how.Hang tight, as help is on the way to right this ship. 

Ideally, whether or not this was a partnership needs to be explored with a competent accountant.Now, I understand that you may not want to invest in this analysis and decide to stick to your possibly incorrect interpretation.

Lots of investors work these leads and you can definitely find deals this way, but know that it's a very common strategy, so you'll be competing with lots of other investors and wholesalers for those deals. 

Two things crossed my mind this morning regarding this topic:1 - When I used to coach, I would always ask my players before big games the same questions. 

As long as your professional is competent on the matter and can explain things in layman's terms, you're going to get a whole lot better understanding after a 30 minute conversation with him or her than any amount of online reading.If your CPA does not do a good job explaining things to you in layman's terms or does not have a good grasp on the subject and you feel the need to read about tax law before you have a meeting, perhaps you should see what else is out there.

In these situations, how fast a foreclosure proceeds depends on the quality of the law firm and even of individual attorneys and paralegals.If you get competent people with a great work ethic, the loan will proceed to foreclosure as soon as possible with little effort on your part.

As a Realtor, my investor clients are having a tougher time competing with a buyer who's buying as a primary residence.  

I researched this myself but law is way out of my realm of education or competence.

Is this what smaller buy and hold players like me should shoot to do?  

@Shaquille Shaw can't compete with the precise and polished response of @Twana Rasoul, but if you want to PM me the neighborhood, I can give you local insight on the demo.