Hi @Paul Pratt I ran into a similar situation previously and I don't know a specific company but you can start by researching the following.

My advice would be to start small and do your research.

Hi Everybody--I've been watching and researching the foreclosure auctions in Hillsborough County (Tampa, FL area) for the last several months and think I'm ready to move to the next stage-- POSSIBLY bidding!

I've discovered that explaining our requirements to potential tenants even before they view the property has been extremely beneficial.

BUT if you do you will pay tax on the difference.You've been told or you've researched and think that you will not pay tax on your original basis and that is correct. 

That being said say it takes 2-3 years to move out rents could and likely will be higher and you could potentially refi to a lower payment.

Unfortunately, this means that I have to let this deal go, but it made me come up with a couple of questions about this situation:Does anyone have experience in partnerships where one partner's only real requirement is to sit on the loan and potentially provide interest payments when needed during the duration of the construction? 

@Bryce Henson my understanding after dealing with reverse mortgages is that the reason it’s listed too high is likely there are rules in place for selling them, there’s a determination of list price from the lender,must be listed at that level for a certain time, then they’ll re-analyze and potentially drop it if it doesn’t sell in that time frame.

If that is what they are telling you, then I would research it further, it necessarily may not need to be torn down but it may not be able to be used for residential use, but typically you can also get special exemptions/permits too

As pointed out earlier, it's crucial to conduct thorough research on the demand in different areas around Jacksonville for MTR.