I know that every situation is different regarding who the borrower is and the foreclosure regulations regarding the location, but I was wondering how often it happens and how the process usually pans out when purchasing a non performing note (whether a failed loan modification or initial purpose for foreclosure) and issuing a foreclosure.

I informed the mortgage company in advance, and they didn't seem to have an issue with it.

house built in 1984. Pretty decent overall metrics on my offer of about $139k which would rent for about $1,400However, after inspection, it probably needs $3,000 of capex and with a foundation inspection it needs at ...

NOT a Loan to the LLC  but true capital.. if they own less than 20% of the LLC usually they don't have to PG. you CAN have uneven distributions in an LLC so no matter what % they own they still have a capital account to cover their cash.. the capital accounts would look like this1. your friend  100K2. you 100 dollars..property is sold it makes 200k  first 100k goes to your friend.. next 100 dollars goes to you.. the 99,900 can be split any way you guys agree to in the operating agreement.. this is the luxery of the LLC... you can establish a pref . 

@Chris MasonI have not had any issues with that because for all intents and purposes, it is a regular rental regardless of how old the people living there are and the insurance company doesn't need to know who I am marketing the rental to.  

***Additionally, a mortgage broker that is able to take a tenant-buyer's option consideration that is paid to me (wholesale lease option deal), and either apply that consideration towards the TB's down payment when the exercise their right to purchase ORdiscount the price of the house.Typically the consideration goes through a third-party escrow account (my attorney's), and that helps with the above.Typically mortgage brokers who understand this type of situation will only submit financing applications to banks they have great relationships and won't have an issue with this type of thing.Thanks in advance!!

The series LLC avoids the issue of forming multiple LLCs and accounting for them at the end of the tax year.

How can I protect myself against possible title issues?

@Kay KeovongphetFor the profit sharing potion (employer contribution portion) of the plan that following may apply if your employer allows for it: The Employer Contributions being withdrawn have been accumulated in the PSP Plan for at least 2 years.For salary deferrals (employee contributions) Any employee contribution (including any earnings on such amounts) may not be distributed prior to the the Participant’s severance from employment, death, or disability.

Annette - You seem pretty familiar with the general aspects of adverse possession and similar legal issues.