Now, if you take a deed in lieu of foreclosure, you then own the property as you accepted the property as payment, the lien is extinguished and the borrower abandons any claims of excess equities.The reason lenders have sale requirements is to keep a lender from going into the real estate business, there becomes an incentive to foreclose and go into RE sales, you are a regulated lender, not a private investor.  

Regulators will scream if a bank finances a past problem property without a heck of a good reason to do so.Be it a SFD or especially a multi or commercial property, there is a reason the borrower went belly up, that often has issues with trails leading back to the property.

If you're doing mobile homes without the land, then maybe not - check your local regulations on mobile home sales.  

No municipal approval, no zoning regulations, no subdivision regulations, no environmental regulations......     

Do you potentially run afoul of the no personal benefit rules governing IRAs if as an individual you are in some manner named in the policy?

I am actually developing investor funded JV, I do not have experience in real estate investing, but very much connected with commercial and government construction, ground-ups included.

the best one happened to just had moved from nyc to la just like me, and works fo the government and makes like 100k/yr and is truly a Godsent i never thought i'd say this but thank you CListps- i never clicked on the personals i'd feel scarred for life hearing already from others what goes on 'there'

This strikes me as a town that has artificially low real estate prices due to government capture by the casino industry.

Check your state regulations  to confirm that.

=Ointriguing, at loss for better civil words. until now, i've never ever heard of the government's replacement property following eminent property proceedings referred to as a 'GIFT'.