We have a 60 day due dillegence period and plan on hiring a local property mananement company to perform an independent assessment of the property.

One thing to take care with is the notice period.

I do plan on keeping in touch periodically and will keep you posted on what happens.

Based on the interest generated during a free giveaway period I did with local investors, there appears to be a lot of interest and I have gotten some excellent feedback on it.

A family member was going into foreclosure, he was in the redemption period when he finally came to me for advice.

Secondly, on redemption rights with a judicial sale in Oregon anyone could have bought those rights, so if you haven't made arrangements with the seller you will have to wait out that redemption period (180 days) while someone else sits on those rights.

I would advise against a HELOC in this case, they are usually interest only loans for 10 years then reset and start a repay period.

My understanding of lease purchase option is that it could be viewed essentially as paying rent for the interim period.

Flooring over 5 years. etc.Here is a chart of such items.Type of PropertyGeneral Depreciation SystemComputers and their peripheral equipment5 yearsOffice machinery, such as: Typewriters Calculators Copiers5 yearsAutomobiles5 yearsLight trucks5 yearsAppliances, such as: Stoves Refrigerators5 yearsCarpets5 yearsFurniture used in rental property5 yearsOffice furniture and equipment, such as: Desks Files7 yearsAny property that does not have a class life and that has not been designated by law as being in any other class7 yearsRoads15 yearsShrubbery15 yearsFences15 yearsResidential rental property (buildings or structures) and structural components such as furnaces, waterpipes, venting, etc.27.5 yearsAdditions and improvements, such as a new roofThe same recovery period as that of the property to which the addition or improvement is made, determined as if the property were placed in service at the same time as the addition or improvement.Property taxes go on Schedule A.

I'll have to try the advice above with a cash offer or other larger offers over a longer period of time.