If you own an existing property, you can pull an equity line of credit from it and use those proceeds for your purchase.

This one condo bought us 6 properties. and now with the proceeds I hope for it to continue when I find a replacement ;p

Neither are legal but this is an accidental landlord who doesn't know any better.I can buy the house on a subject to deal for $66K at 5.5% but would also have to pay off a lien for $10K cash.There are two ways I could proceed.  1:  I keep it as a legal 1 bedroom.  

I'm making arrangements to see the other two units before making an offer.My options for presenting an offer and proceeding are the following:Use my current realtor at flat rate pricing to manage the dealUse an RE attorney at flat rate pricing to manage the dealI'm leaning toward using an attorney so any references you can provide would be great!

Like a dozen homemade chocolate cookies just call or get a free or low cost lottery ticket (proceeds to a church donation),  Meanwhile you get is a chance to meet them, ask for biz or referral and go from there.  

I  am interested in bidding but don't know how to proceed.  

I would start eviction proceedings immediately.

Maybe the government should disband section 8 and use those funds to match these folks up to home ownership... save them a heck of a lot of money and bring pride of ownership back into areas that desperately need it... you could give them a voucher for tax payments so they don't lose the house... but keep them responsible for the asset through its life.. with a 10 year no sell clause  or if its sold proceeds pay Section 8 first.

So I'll proceed with caution, but keep moving forward.Mike

So we are going to list it.Any advice on how we should proceed would be greatly appreciated!!