I am curious on these 100's of offers, is that a formal written purchase offer or are they just sending an e-mail saying they would pay $X amount.

Educate yourself formally and use your time to be of value to a local investor (s) as a wholesaler to get the real estate education.

Florida has a lengthy foreclosure process for lenders and mortgage service companies because it is a judicial process, if the loan for the first mortgage is conventional, and the property is upside down the third party purchaser at the HOA sale should try offering a short payoff to the lender or mortgage service company.

It also means I can't use my own calculator to factor interst (or principle) paid (yes, I know they send you tax info but I put that info into my system based on what my calcs say I paid as part of my payments, as it should match what they report)If anyone knows the formal to use to type in this kind of loan (you can use the $3.2m example above and see if you can get something to say you should pay $20,355.58), please let me know.  

It is Non-Judicial foreclosure sale (Trustee).

@Mohamed Farih that 97% loan doesn't have a formal name but that "conventional 97" is a pretty safe term to use. 

There have been formal police reports filed, any suggestion as to next steps or any experience you’ve all had?

I'm thrilled to invite you all to participate in a vibrant and non-formal dialogue on the exciting world of Outer Banks real estate, specifically focusing on the quality of vacation home rental properties.

That would beat S&P number for sure especially if we can get rate below 5% (4.75%-5.25% mortgage rate is good enough for me).I guess this is the way gov. is pushing to formalize househacking LOL. 

He has stopped responding to my messages and calls and owes me 1K for the deposit on the roof job that he never started and roughly about 1K for the electrical job leftover that I have hire a new contractor to finish.At this point, I am planning to pursue formal collections options.Any feedback / suggestions are appreciated.I am not naming the guy here as he is a BiggerPockets member.