I realize that the owner of the right of redemption would owe interest, taxes, insurance premiums, and necessary permanent improvements.

The title will be permanently clouded.

Also, he talked me out of a deal that would have been a fat commission for him but iffy for me.

Anytime a buyer can't close on time the only way I continue is with a very short extension and an additional big, fat, non-refundable deposit.

Hi @Rochelle Gellineau ,I have the opportunity to meet with some of the local Pros on this forum and have been provided with a lot of advice.Here are some of the options I will be pursuing to get leads:Bandit Signs - I made 25 bandit signs and placed them around the East Valley Friday night and picked them up Sunday night.I got all my materials from a local home improvement store but had a tough time trying to get them to to stick into the hard phoenix desert landscape.So ended up trying to find places where there was a grass but that meant my signs were in places with traffic.I did not get any call backs.Lesson Learned - I will invest into getting my signs professionally done and possibly hire someone to put them out for me.I used a sharpie marker to write my message and it rained over the weekend so my message was washed away.Need to start working with a permanent solution to write the message.The second option I am using is Direct Mail, I bought list of 209 leads from list-source with a specific criteria and my plan is to mail to that targeted list using Click2mail.

Also, if I am not mistaken, an FHA loan has permanent PMI (can't be removed), whereas conventional with minimum 5% down payment the PMI will be removed at 20% equity.

Again, my goal is not to live in the Bay Area permanently.

The only way an investor will be compensated for the value of permanent improvements on vacant land is if the land is located in an urban renewal or urban redevelopment district.  

You won't find any lender or private money that will loan out that equity to you.I do know investors with millions in cash that loan out on properties.They loan to people that have the properties literally almost paid off and want to cash out some.Example a house with recent appraisal in the last month is appraised at 800,000. 200,000 is owed on the property.Investor loans 200,000 and secures first position with payoff of the first.They set a high interest rate and if the borrower defaults and they foreclose the lender will easily make the money back plus a fat profit.It depends on each states lending laws and foreclosure process on what you can and can't do.You could find someone who might lend the 60,000 with a high interest rate if the house is really worth 150,000 today.There is not as much risk there in that the lender can foreclose and quickly sell the property to recover costs.With your track record you aren't going to get a loan for a car business.My brother has had his own used car dealership for over 20 years in Georgia.He buys all his cars at private auctions not open to the public for dealers.The rookie dealers always want to bid on the running vehicles which is a mistake.You see they rig the cars to run at auction and then when the dealers take them back to their lot to sell they overpaid for a piece of crap.The dealer finances this piece of crap with some money down and a high interest rate.Most of these buyers live paycheck to paycheck.So when the car breaks down the lot has to pay a repo man hundreds of dollars to recover the vehicle because if they can't get to work they can't make money.The lot try's to sell the car again and finance and keep going that way.My brother takes a different approach.He goes to the dealer auction and buys the "no starts".Usually gets them for 300 to 500 bucks.Puts all new hoses,belts in and takes and puts a new tranny and engine in if necessary.Usually might have 1,500 to 2,000 in it and sells for 2,800 to 4,000 depending on what make and model and year it is.By him working the car top to bottom he sells them for cash and gives a 1 to 2 year warranty on them and will fix things if they have a problem.This way he knows what he is selling instead of something rigged to run at the auction.He usually sells about 100 cars a year.Most of his cars he sells around tax return time.People wait for their returns and save up some cash all year to add to it and then pay cash for his cars.In 30 to 60 days he sells about 75 to 80 cars at tax check time.This way he gets all cash and doesn't have to worry about repo.He also builds a rep of selling quality vehicles with a warranty and whole families buy from home.Makes a very nice return for him and his family.

Bryan were they on a trial loan mod and then denied for a permanent one??