It depends where you wish to go with your business, and whether or not you wish to establish a D&B profile with it....or obtain business credit in general.

Did you perform a walkthrough with a checklist to establish the condition?

The equation is established by the bank, and is what makes investors heads spin (because the investor does not know what the bank's calculations include/look like).

Check your math; 47K + 18K = 65K where I'm from :DYou need to establish the ARV (after repair value) from sold comparables, since that is how an appraisal will approach setting the value.

I'm sitting here thinking that before I can even think of purchasing I should have an established corp (min 2 years) before buying.

Should I establish an LLC and a business bank account to better track the transactions of ingoing/outgoing transactions?

The appraiser will establish a value.

Basically, you don't ask, you tell, you give notice and establish your position up front to make the payments in the name of the original borrower.

And even more importantly, establish rapport with those receptive ones.

That said,Realty Note Bid,PennyMac,Carlton Exchange are authentic clearing houses for those assets... and transactions are made daily.If you want real product,establish real personal relationships with Special loan servicers,trustees and NON-tarp lenders...