Ben Einspahr yes very common.

Makes sense.

This type of foreclosure does not involve court action but requires notice commonly called a sale under the power of sale.

In my opinion, if a listing agent is working for the Seller, and has "the Seller's best interest in mind," then it makes No Sense to lobby to keep the 6%.

What kind of return do you think would make sense for you for flipping?

For example if you owned your previous home, had plenty of equity, worked out a forbearance or deferment arrangement with your current mortgage company, the mortgage on the new loan was less per month than renting in your area (common in Houston) and truly have a plan for exiting the old house, as in you have the means to repair it or the equity to be able to let it go as-is and not be upside down.Or you are well within a floodplain, so you have flood insurance and you'll have a payout, maybe you've flooded before, and and it's just time to move to higher ground.

Depending on what kind of ROI your looking for you may want to adjust your numbers on the maintenance and delinquency slightly higher to see if it still makes sense.

My thought is I can buy the raw land, and sell it back to the owner of the main parcel, who recently purchased it from a bank as an REO.The property has access to a main road without going through the other parcel, but is currently behind a contiguous fence from the other parcel.Does this strategy make sense, or am I putting myself in a poor position by doing this.

@James D Malone Thanks, that does make more sense. 

They LIKE the location, but I get the feeling I'm up against that invisible "you gotta make that decision" line with them, if that makes sense. :) Thanks again!