If you have corporate Taco Bell that owns thousands of locations but the lease is backed by a remote single entity LLC for the guaranty then it is WORTHLESS.

With an aging population, boomers and other are inheriting a depreciated asset that they have back-taxes to pay on, and they just let them sit.

I have reached out to credit unions, "quick" close FHA companies and I am waiting to hear back. 

I will receive my initial capital investment back for the land upon sale.

Depending on how everything looks you may want to see if they have a co-signer to ensure someone with income is able to back their play..if no one is willing to do that...there may be a reason. 

Thinking about purchasing foreclosed properties at auction using HELOC funds for the purchase and renovation costs, then refinancing into a 80% LTV conventional loan to pay back HELOC, and renting property long term. 

I follow the news for Philadelphia and it looks like the current mayor has no clue on how to attract companies back to Philly.

It's possible you are able to build additional detached ADUs in the back.

I suggest reading the forums, blogs, webinars etc about it.Basically they are notes backed by real estate where the person stopped paying for one reason or another.

What would happen if I backed out of the contract?