I don't agree that it's a bait and switch - a complete PITA and frustrating - totally.The owner can initialize sale of the property during any point of the pre-foreclosure/default process up until a certain date, as I understand it.

This might not be an appropriate path for you, but, whatever the path you choose, remember that a slow and steady progress along your pre-determined path will take you a long way: hard work, integrity, and results...that is my simple formula.

Did he not get paid?

Your loan amount has bearing on cap gains tax due.....it’s is calculated on your costs of the property verses your sales price, less actual selling/closing costs.....doesn’t matter if you borrowed 100% or paid all cash.

If you have not been charging them for taxes and insurance all this time and you want to first start now, they will likely require a reduction in the base rent to account for the additional amounts paid to you for "CAM", so you should end up relatively even unless they are using a ton of utilities or taxes have gone up a ton, etc.You can have them direct deposit your rent, or set up an auto pay to your account.

At the moment I just have the pre-approval from a bank, so I can search for properties and realtors know I am a serious buyer.

They haven't paid me or anything like that.Austin TXAny insight would be great!

CONSTRUCTION LIEN LAW[FLORIDA STATUTES § 713.015]ACCORDING TO FLORIDA’S CONSTRUCTION LIEN LAW (SECTIONS 713.001-713.37, FLORIDA STATUTES), THOSE WHO WORK ON YOUR PROPERTY OR PROVIDE MATERIALS AND SERVICES AND ARE NOT PAID IN FULL HAVE A RIGHT TO ENFORCE THEIR CLAIM FOR PAYMENT AGAINST YOUR PROPERTY.

Pre-finished hardwood a bigger item but the bag for the buck can be huge.

Could do a rental or a rent to own to get the mortgage paid so you are not paying 2.