It will be ready soon and we will ideally look at 3 units and more. 

Patience isn’t one of my strong suits!

Ideally my offer is taken and I can still increase from $150 instead of $100 :)The 30 year loan is better because it is less cash out of pocket each month. 

Ideally the same sub would also do the painting.Has anyone had good experiences recently with a drywall sub and /or painter?

I don't like it when my taxes jump up, but I deal with it. 

Therefore an interest only loan would be ideal... problem is, I've only been able to find Jumbo IO loans but I only need a smaller loan amount under $500k.  

The lawsuit sounds like it involves more than a foreclosure... the plaintiff may be asking the court to determine the rights of all of those with an interest in the property.There would not be a need to include the first mortgage holder in the suit if this was simply the foreclosure of a subordinate lien. 

Suits are rare considering how many lawyers there are.

We do plan to self manage the property, we moved down last summer and live locally.We just love the Venice area  and it was our ideal vacation spot before we moved.

Ideally, if we go SFH I would like something that needs some rehab first to create some appreciation (I am a Gen Contractor) so I would hope to find something that CF at least 400-700 after rehab and the original 20% down.