Last time I checked, the appraised value for one of these in the state of California was $25,000 and thats when the thing is permitted. 

The good news is that bad credit is not a character defect or unfixable.

I was just in Detroit all last week checking on some projects we have going and meeting with other investors.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

I'd wager they have told you they are paying cash so you can't double check, they are not. 

This market cycle is NOT where a person looks to "buy a pay-check" which is exactly what one is doing when looking to buy some big cash-flow day 1.

Everything else - checking regulations, etcWith all of that sorted out you should have a pretty good idea what route to go!

Would any lender be ready to issue cashiers check for an amount which I request for ( to be used during the day of the foreclosure), with a lien on the property which we buy (the property is subjective to what we bid for and not definite). 

Check it out to see if it’s what you need to do the refinance https://podcasts.apple.com/us/podcast/the-luxury-short-term-...

They outline various conditions and potential outcomes, further emphasizing the importance of both parties understanding and agreeing to the terms.In conclusion, while seeking professional advice is essential, always double-check information, especially on legal matters.