As such you only see the notice of trustee sale, which in addition to being sent to the owner via certified mail is also posted at the courthouse, and recorded with the county.We typically refer to properties that have the Notice of Sale filed as "Scheduled for Auction" or "Auction", to differentiate that stage from the earlier notice of default stage, which we refer to as "Preforeclosure" This means that in states where the notice of default is either not public, like Texas, or is combined into a single notice, like Oregon, we never show properties as "Preforeclosure".

IMO, ultimately the metric that is most important is IRR, but that requires more speculation (essentially it's COCR, plus debt pay down, appreciation, etc).

I do believe your FICO must be a 580 or greater, and sufficient debt to income.

Prefab ADUs come in around $100k but I'm hesitant to take on a lot more debt.

It is this loan that provides you liquidity, and unlike a 1031 exchange, there are no rules on the timing of subsequent purchase, nor do you have to apply all the cash to the replacement property or maintain at least as much debt on it as you had on the relinquished property.

Assuming your numbers are based on the rental income from the homes and lot rents combined this is potentially a very bad deal.

That being said, an LLC combined with an umbrella is the safest thing you can do.

Interesting article published today. https://www.foxbusiness.com/features/10-cities-in-...To make the list, cities had to have rates of negative equity in excess of 8.2 percent, which is the current the U.S. national average rate of homes “underwater.” combined with the city’s mortgage delinquency rate from Zillow’s February 2019 index.

They want debt relief.Where is this property located?

These are my favorites as there are multiple exits and you can combine a couple for the best return.